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.
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- Employed (by own company) and Self Employed - Tax Efficiency 130 2
- One off meeting new client 1,371 13
- Can I take action against my accountant for incompetence? 2,349 55
- Director forgot to take salary for 2013/2014 2,698 29
- Sole-trader renting commmercial property from himself & spouse. 282 6
- Child tax credits 203 4
- transitioning payroll 104 2
- Deduction from Salary 134 4
- Car leasing scheme 216 1
- 12 Pay Problems 169 2
- PITA client 549 8
- DEATH OF A SHAREHOLDER NO SHAREHOLDER AGREEMENT 462 11
- Entrepreneurs relief available? 595 15
- Right to waive dividend 135 2
- Do I need to report this to SOCA 3,437 34
- first year company tax return for a limited company 1,750 29
- PPR CGT section 222 builds an extension 137 2
- Leaving Flat Rate Scheme for VAT 351 9
- R&D tax credit claim 298 7
- Property exchange - 8-year legal delay following fall-out 615
- Cancelled 358
- SAGE Payroll Data for Import to MS Dynamics AX 340
- Cancelled 301
- Have you staged yet for auto enrolment? 272
- Probiz 261
- VAT on non-profit making clubs (ECJ VS West Dorset Golf Club) 225
- Free-standing washing machine - unfurnished lettings 212
- Phishing emails purporting to be from CIPFA? 196
- Is this UK incapacity benefit taxable in UK or Jersey? 162