Top 11 Accounting professional bodies in the world (2024)

A professional accounting body is an organization or association of accountants in a particular jurisdiction. Professional accounting bodies make sure that accountants working at companies all over the world, work in compliance with international and domestic regulation ethics, and codes of conduct. They are responsible for conducting exams for its members and also training them. Usually, the primary bodies in each country are affiliated with the international federation of accountants(IFAC), while some of them act as specialist bodies. Here, in this article, we will discuss the top 11 Accounting professional bodies worldwide.

1. The Institute of Chartered Accountants of India (ICAI):-

ICAI is the world’s second-largest professional accounting body in the world. It is under the ownership of the Ministry of Corporate Affairs, Government of India. It was established on 1st July 1949, as a statutory body under Charted accountants act 1949, which was enacted by the parliament of India. Members of this institute are known as ICAI accountants. Only members of ICAI can be appointed as statutory auditors of a company under the companies act, of 2013. ICAI is also among the founding members of the International Federation of Accountants(IFAC), South Asian Federation of Accountants(SAFA), and Confederation of Asian and Pacific Accountants.

Below are the top colleges or Universities to pursue ICAI

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2. American Institute of Certified Public Accountants (AICPA):-

AICPA is the professional organization of Certified Public Accountants(CPA) in the United States of America. It was founded in 1887 as the American Association of Public Accounts(AAPA), and currently has 4,28,000 members in 130 countries. AICPA establishes regulations and standards for the profession of CPA for private companies while monitoring and enforcing compliance. AICPA sets standards in professional ethics, business valuation, financial statement auditing, attest services, and CPA firm quality control. AICPA offers the qualification of Certified Public Accountant.

Below are the top colleges or Universities to pursue AICPA

3. Institute of Chartered Accountants in England & Wales (ICAEW):-

ICAEW, which was established in 1880 by the royal charter, is a professional accounting body that develops and supports charted accountants and students around the world. ICAEW currently has 189000 members from 147 countries. ICAEW is among the oldest and most prestigious accounting bodies in the world. ICAEW serves as a regulatory body and can investigate or hold both members and companies answerable to the law. ICAEW can also withdraw the license of its members if found guilty. ICAEW is respected globally by top firms. According to Times Stock Exchange, 83% of top companies in the UK have ICAEW-certified chartered accountants as one of their board of directors. It offers the qualifications of ICAEW- Associate Chartered Accountant, ICAEW- certificate in finance, accounting, and business, and ICAEW Business and finances professional.

Below are the top colleges or Universities to pursue ICAEW

4. The Institute of Chartered Accountants of Scotland (ICAS):-

The ICAS is the world’s oldest and first professional chartered accountants body. It was established in 1854 by the Royal Charter. ICAS provides support and advice to its members throughout their professional lives. Currently, ICAS has 21000 members and students worldwide. ICAS acts as a regulator, educator, influencer, and thought leader to its members and students.

Below are the top colleges or Universities to pursue ICAS

5. The Malaysian Institute of Certified Public Accountants (MICPA):-

MICPA was established in the year 1958. There are other accounting bodies involved in training Malaysian Citizens in the field of accounting, but MICPA is the only accounting body that is evolved from Malaysia. MICPA has around 3200 members and more than 500 registered students. The members of MICPA are called ‘Certified Public Accountants’. MICPA offers the qualification of the MICPA-CAANZ program.

Below are the top colleges or Universities to pursue MICPA

6. Institute of Singapore Chartered Accountants (ISCA):-

ISCA was established in 1963 and currently has over 32000 members working in various industries in Singapore and around the world. It is the national accounting body of Singapore. ISCA offers the qualification of Charted Accounted Singapore to its members.

Below are the top colleges or Universities to pursue MICPA

7. Association of Chartered Certified Accountants(ACCA):-

ACCA was established in London, in 1904. Primarily it was known as the London Association of Accounts. ACCA has 2,33,000 members and 5,36,000 future members around the world. It has over 110 offices and centers in 51 countries. ACCA has 346 approved learning partners and also works in India, China, Nepal, and Pakistan.

Below are the top colleges or Universities to pursue ACCA

8. Chartered Accountants Ireland (CAI):-

CAI is another accounting body that was established by the Royal Charter. It was established on 14 May 1888 and it is Ireland's largest accounting body. CAI became a member of the International Federation of Accountants(IFAC) in 1977 and presently has 30,000 members globally. In 2009, CAI introduced ‘The elevation program’ which was a unique initiative as it allowed students to study for the exam while they remained in employment. The qualification obtained at the completion of the program is equal to that of the certificate obtained by the training contract.

Below are the top colleges or Universities to pursue CAI

9. The Chartered Institute of Management Accountants (CIMA):-

CIMA, a member of IFAC, is the world’s largest accounting body in the world with 1,15,000 members and 6,500 students. CIMA was founded in 1919 and has the full potential of management accounting which helps Individuals and businesses become successful. CIMA offers the qualification of Chartered Management Accountant(CMA).

Below are the top colleges or Universities to pursue CIMA

10. Certified Practising Accountant Australia (CPA Australia):-

CPA Australia is an accounting body in Australia which was established in 1886. It provides education, training, technical support, and advocacy to its members. CPA Australia has 168,736 members working in 150 countries around the world. It is the largest professional accounting body in Australia. It offers the qualification of Certified Practising Accountant.

Below are the top colleges or Universities to pursue CPA Australia

11. Hong Kong Institute of Certified Public Accountants:-

It is the smallest professional accounting body in the world with 43000 members and 18000 registered students. It was established in 1973 as the Hong Kong society of accountants. It is the only body in Hong Kong that is permitted to issue practicing licenses to certified public accountants. It offers the qualification of Hong Kong Certified Public Accountants.

Below are the top colleges or Universities to pursue Hong Kong Certified Public Accountants

The above-mentioned are some of the prestigious Accounting professional bodies in the world. Almost all of them offer huge value after you obtain your license by passing exams. But as exciting is the value of their license, so are the fees to obtain training for those exams. Missing out on those opportunities just because of the fees is a reason we do not entertain, as we will help you cover your expenses for studying in such prestigious organizations. At Wemakescholars we help students in obtaining higher education at quality institutes by helping them with an education loan. We have expertise in dealing with education loans as we process nearly 1000 files every day. Clear yourself of any doubts by requesting a callback from our team. Once you request a callback, our financial officer will get back to you in no time with the best education loan offers, customized for you.