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.
- Income recognition - release of product from a factory 35 1
- Dividend in specie 240 8
- Can I claim mileage? 114 2
- Partnership Tax Return Deadline 49 1
- VAT on imports and the Flat Rate Scheme for VAT 182 9
- client threatening legal action 1,818 28
- Twenty signs your practice is bad at tax 696 8
- Partially exempt? 246 9
- Reclaiming EU VAT on fuel and expenses 96 1
- First VAT Visit for client 252 4
- Lorry Drivers 153 2
- Redundancy payment added to p45 135 1
- Partnership registered in error. No activities with view to profit. 113 1
- Mexican student in UK 125 2
- PI insurance for Auto Enrolment 201 3
- Accounting Practice acting as an employment agency 310 12
- payroll software 151 1
- No Tax Returns submitted for last 16 years 1,057 25
- Complicated Company car purchase 130 1
- Pricing 342 10
- Skandia using wrong address 492
- Does anyone use PS Financials accounting software out there? 280
- FHL, period of grace and Entrepreneur's relief 275
- Employee rewards 259
- Legislation access for part-time sole practitioner? 229
- Rental Property W&T And Equipment 220
- Gift of reversion and lease into trust by two different people - later PPR 220
- EPS Analysis - Change to EURO 216
- Etax Australian 174
- Annual Management Charge Rebates and Self Assessment Tax Return 162