Accounting is one of the most important operations any business needs. Businesses tend to hire qualified accountants in order to carry out a multitude of tasks. Businesses hire professionals like Roberts and Cowling to meet their accounting needs and preferences. Given the demand, many individuals consider accounting to be a prestigious field to join.
Each country has its own professional body of accountancy. These bodies have the objective of making monetary policies and providing beneficial interests to the country. Here are the top 5 accounting bodies known in the entire world:
1. Institute of Chartered Accountants in England and Wales
As the name suggests, this is the most important financial organization in England and Wales. It is considered the best accounting body all across the globe. It was established in the late 1800s. Since then, over 150,000 members have been providing services through this organization. This institution has affiliations with a number of other organizations as well.
2. American Institute of Certified Public Accountants
This is the national accounting body of the United States of America. This body was established in the late 1800s. The main headquarters of this organization was established in New York. There are over 400,000 members of this organization working all across the globe, providing diverse accounting services. Services of this organization are provided amongst over 140 countries. It is also in affiliation with accounting organizations of the Caribbean.
3. Institute of Chartered Accountants in Australia
Australia is known for the accounting services it provides. ICAA has played a major part in the enhancement of accounting services all across Australia. This organization was developed in 1928. There were over 61,000 members operating all over the world. In 2013, this institution was institution was merged with the accounting body of New Zealand. Since then, both the accounting bodies have worked in cooperation.
4. Institute of Chartered Accountants of Pakistan
ICAP is the accounting organization or body of Pakistan. It is unarguably one of the most popular accounting bodies all across the globe. It was initially established in 1961. Even though it appears to be a relatively newer body compared to other organizations, ICAP has enhanced its reputation in this short time. It has even become a member of International Federation of Accountants in 1977. The criteria of becoming a student of ICAP are a bit different from other accounting bodies of the world. The services offered by ICAP in the field of accounting are incredible and it continues to maintain its quality.
5. South African Institute of Chartered Accountants
This is a professional accounting body of South Africa which has its operations all across the globe. It was created in 1894. There are approximately 36,000 members working all across the globe. It is an NGO.
No business should the importance of accounting in this day and age. A majority of the accountants go through a learning process for each accounting organization. Above are some of them listed that stand out among the rest.
