Chartered accountant examine clients’ accounts to assure others that they are true and fair records.

What chartered accountants do

• undertake external audits and prepare annual accounts
• calculate clients’ tax liabilities, give advice on taxation and negotiate with HM Revenue & Customs
• advise on areas for business improvement
• take over insolvent companies and make them financially viable again
• advise on the value of companies that are targets for takeovers
• if working in industry, they provide financial management services and do similar work to that of chartered management accountants.

Key skills

• accuracy
• understanding of, and interest in, business
• numeracy
• logic
• tact and discretion
• ability to remain impartial
• written and verbal communication skills
• teamworking skills
• initiative.

Training to be a chartered accountant

Most are trained in accountants’ practices, although it is possible to train in some companies within industry and commerce. Professional training takes at least three years and consists of on-the-job and external training for the Accountancy Institutes’ examinations.

Salaries

Average starting salaries are around £18,000 to £24,000, but can be as high as £65,000 for newly-qualified Associate Chartered Accountants in the City of London. Partners in large firms may have salary packages worth several million pounds.

Professional bodies

• Institute of Chartered Accountants in England & Wales
• Institute of Chartered Accountants in Ireland
• Institute of Chartered Accountants of Scotland

Related jobs

• Actuary
• Chartered certified accountant
• Financial accountant
• Management accountant
• Public finance accountant
• Tax adviser