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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- Pylon compensation - what am I missing? 187 4
- Freehold Property Depreciation 264 12
- Limited Company expenses 106 5
- Personal Pension Withdrawal 305 3
- Tax relief for backdated pension contributions 531 16
- Advice needed for Annual Accounting Period - companies house 68 5
- Shares paid - petty cash 188 4
- Software recommendations? 183 2
- Is an ex-gratia payment to a company taxable 129 5
- Charity accounting 157 5
- Accounting for Film Rights 62 2
- Lunatics in charge of the asylum - Bluestone 597 1
- client issues 780 5
- Why .... 318 5
- Leaving the Flat Rate Scheme 82 2
- Claiming VAT without invoice 102 2
- Sell business after leaving country 441 13
- Tiwan contractor 130 3
- Rental Income 87 2
- Possible Partnership? 568
- Tax and accounting treatment on long lease granted from freehold 489
- New Fangled Penalties 367
- Clubs and Taxable Income 302
- Purchase of property freehold - capitalisation of costs 282
- Loans to other companies 226
- Closed PAYE schemes and auto enrolment 219
- Lenovo – Superfish & Komodia – is your PC vulnerable 191
- Outsource Data Entry 183
- Moving away from CCH software 162