# The Advantages Of A Chartered Accountant

There are numerous different types of accountant, with varying qualifications and services offered. With this particular in mind it can be quite difficult to know what services you really need and which accountant is the better for meeting your requirements. You can find two key different types of account, they're a chartered accountant and a low chartered accountant. To put it differently the key differentiation between those two terms is a chartered accountant or accountancy firm is governed by a professional body where as a low chartered accountant has no regulations or standards to meet.

There are many different types of chartered account and accountancy bodies such as the Institute of [Chartered Accountants Kuala Lumpur](https://vitalfact.com/chartered-accountant-kuala-lumpur//) and the Association of Chartered Certified Accountants (ACCA). These professional institutes serve as a governing body for accountants and accountancy firms providing guidance and ensuring that their members have been in compliance with the current laws and regulations. Becoming a person in one of these institutes there are numerous criteria which you must meet including experience levels and professional exams. As an example entrance to the requires a minimum of 3 years supervised training and 3 years worth of exams. From here there are additional exams and specialist training needed for regulated work. Other bodies require prospective members to sit and pass an entrance exam which covers all accounting areas from auditing, attestation, financial accounting, reporting and regulation.

These bodies therefore ensure that their members maintain their training standards to guarantee that their members are up to date with the new technologies, specialisms and regulations in the industry. In addition to these requirements Chartered Accountant firms are also allowed to supply specialist services such as for example audits and insolvency. To be able to provide these services the accountancy firm must apply for specialist permits and as a result authorisations and all subsequent related work are heavily supervised by a governing body such as the ICAS. As a rule the planet of accountancy is generally bound by strict rules and codes of professional codes of conduct and ethics.

These institutes guarantee that their members meet these criteria therefore ensuring theoretically the best standard of accounting and in turn the best choice for almost any persons accounting needs. Although, naturally, there are always exceptions to the rule to when creating any decision about accountants you are always best to make it based on their reputation and past work rather than simply on their titles.