Desecration of Chartered status
I have group of friends from University who've gone into a variety of "professions" such as chartered accountant, solicitors, doctors, IT consultants, engineers and vets.
Talking to a solicitor friend recently I asked "knowing then what you know now would you still go into law". The answer was emphatically no! Because the rewards do not match the risks and efforts required.
A friend who is an IT consultant (albeit a very good one) earns £1,500 a day does not pay membership fees, does not pay PII, has no governing body, did not have to study professional qualifications, does not need to do CPD.
As a Chartered Accountant the reward is simply not commensurate to the responsibilities and the associated risks. The term Chartered has been diluted to mean any old cra*. At Christmas I returned to the village where I grew to visit family. I bumped into the mother of an old friend, when I asked what her daughter was doing she said she was a Chartered Accountant. Who did she train with? I asked. South Hampton Council was the answer. Really, I wasn't aware you can train with a council?On no she's a CIPFA. Says it all.
Despite only ICAEW and ICAS being entitled to use the Chartered designation it seems everybody uses the term now. The problem is not limited to dubious accountancy bodies fraudulently using the Chartered term but the general over use of the term Chartered. The Chartered institute of marketing? the Chartered institute of environemental health? What next the chartered institute of toilet cleaners? Add to this the fact "accountant" in the UK is an unprotected term makes an absolute nonsense of the profession.
The profession (and I use the term very loosely) is not in a good place and needs a major overhaul to protect itself and to move forward into a global era.
- Profitable company wanting to buy an office 39 1
- Treatment of goodwill in Consolidation 47 3
- Outsourcing iXBRL Tagging 361 21
- Use of home for storage 284 6
- VAT registration for self employed dentist??? 272 10
- where has the honest passion to help gone..??? 735 15
- Shutting down a company with creditors 1,207 21
- Shutting down losing Directors Loan 328 4
- VAT on stock sold at a loss 166 6
- Any Scottish members out there? 9,049 338
- Commercial property rental on disincorporation 56 1
- property rental income split 221 2
- Payments on account coded out?? 283 1
- Late filing penalty for personal tax return. Reasonable excuse 329 9
- Mortgage deposit Gift 391 17
- What should I do for 'free' 588 6
- Declined for business bank account 492 7
- Negativer Payslip Request 252 3
- Family loan 1,222 16
- Getting VAT right for a sole trader pilot 153 5
- Raiders of the Lost Tax File 1,178
- Chartered Accountant in County Down N.Ireland 398
- IPP (International Pension Plan) income 311
- National Insurance 305
- valuation of intangible asset FRS10 and FRS20 258
- Cass 5 FCA Client Money Software recomendation 231
- Unnecessary S9A Enquiries 230
- Non Resident 215
- Franchise income and costs 199
- Hands on experience of Digita 139