What Is a Chartered Accountant (CA)?

What Is a Chartered Accountant (CA)?

Let me explain what a chartered accountant (CA) really is. It's an international qualification that shows you have the knowledge and skills to handle specific accounting procedures. This designation is given to professionals in countries outside the United States, and it's essentially the same as the certified public accountant (CPA) title we use here in the US.

As a CA, you work in four main areas: applied finance, financial accounting and reporting, management accounting, and taxation. Your responsibilities could include filing taxes or auditing financial statements—straightforward tasks that keep businesses running smoothly.

Key Takeaways

You should know that chartered accountants are financial professionals who carry out accounting procedures. The CA designation is for accounting pros internationally, outside the US, where the equivalent is the CPA. Typically, CAs specialize in audit and assurance, financial accounting and reporting, management accounting, or applied finance and taxation. Also, some CA institutions have reciprocity deals with the US, so if you pass certain exams, you can work as a CPA there.

Duties and Responsibilities of Chartered Accountants (CAs)

You earn your CA designation based on the rules of the country you're in. CAs work for organizations, businesses, governments, and individuals in both private and public sectors. They usually focus on one of four areas: applied finance, financial accounting and reporting, management accounting, or taxation.

Depending on your focus, you might handle just one part of a company's business, like auditing financial statements. Or you could oversee all accounting needs, or even work as a freelancer managing accounts for multiple clients. You're qualified to file tax returns for businesses, audit financial statements and practices, and provide advisory services to clients.

Importantly, CAs around the world and CPAs in the US do very similar daily tasks.

How to Become a Chartered Accountant (CA)

Different countries have their own rules for becoming a CA, but you usually need a university degree in something related, like math, accounting, or finance. You might also need special coursework to get certified.

Take New Zealand as an example: you have to complete a recognized academic program, such as a three-year bachelor's or an accredited master's in accounting and business. Then, you do a practical experience program before enrolling in and finishing a CA program that trains you in modern accounting methods.

In Canada, if you want to be a chartered professional accountant, you complete an undergraduate degree with business and accounting courses, then enroll in a professional education program.

Here's a fast fact: Chartered accountants were the first to form a professional body back in 1854 in Scotland. Now, there are organizations worldwide, like the Institute of Chartered Accountants in England and Wales (ICAEW) and the Canadian Institute of Chartered Accountants (CICA).

Job Outlook and Salary for CAs

The job outlook for CAs varies by country, but there's generally strong demand due to skills like analytical and technical abilities, communication, time management, and problem-solving.

In Canada, the median hourly salary for CAs was $38.46 in 2024, with 88,000 new jobs expected between 2022 and 2031.

In the US, the Bureau of Labor Statistics groups accountants and auditors together. Job growth is projected at 6% from 2023 to 2033—faster than average—with 91,400 new jobs. The median annual salary was $79,880 in 2023.

Chartered Accountant (CA) vs. Certified Public Accountant (CPA)

The main difference is that CPA is the US designation, while CA is used in many other countries. But CPA can mean different things elsewhere—like chartered professional accountant in Canada or certified practicing accountant in Australia.

Members from Chartered Professional Accountants Canada, Chartered Accountants Australia and New Zealand, and Chartered Accountants Ireland have reciprocity with the US. If they pass a test, their qualifications transfer, and they can work as CPAs in the US.

Frequently Asked Questions

What's the difference between a chartered accountant and a certified public accountant? The primary difference is geographic—these designations are used in different parts of the world, but they perform similar functions in public and private sectors for corporations, individuals, governments, and organizations. They handle taxes, applied finance, auditing, financial reporting, and management accounting. In some cases, CAs can pass a test to work as CPAs in the US.

How do I become a chartered accountant (CA)? It depends on your country, but generally, you need an undergraduate degree in a related field like accounting or finance, plus special coursework. Work experience, like an internship, is also valuable—don't skip it if you can.

What is the job outlook for accountants and how much do they earn? According to the Bureau of Labor Statistics, accountants earned an average of $79,880 annually in 2023, with 6% growth expected from 2023 to 2033, adding 91,400 jobs.

The Bottom Line

Demand for accountants is strong and steady, and if you're interested in this field, becoming a chartered accountant (CA) is one path you can take. CAs have certifications that vary by country, but their responsibilities are similar to US CPAs. You can work in the public or private sector for businesses, governments, individuals, and organizations worldwide.