How is a Controller? According to the Australian Accountants Directory, they are “an accountancy or accounting specialist who is calculating, reporting or offering financial information security that helps administrators, clients, tax authorities and others make resource management decisions.” As you might already know, numerous parts of the world have specific accounting professional bodies. Learn more on W M Wright & Co-Accountant Penrith.
Not every country, for example , makes use of the American Institute of Certified Public Accountants (AICPA). It is only found in the United States, as the name suggests. Nonetheless, Australia has three officially recognised specialist local accounting bodies; the Institute of Public Accountants (IPA), CPA Australia (CPA), and the Institute of Australia Chartered Accountants (ICAA).
The IPA has been around since 1923 and today the group continues to expand. It currently sits more than 26,000 members and graduates across 64 countries after 90 years, and is ranked among the world ‘s highest professional accounting bodies (“Institute of Public Accountants”). In 2005, they gained full membership from the International Accountants Federation (IFAC), as well as the Asian and Pacific Accountants Confederation (CAPA) in 2011. They are working really to develop partnerships and share information overseas. We are innovative in everything they do, because they are already listed as one of the top 20 in the 2012 Australia list of BRW’s most creative businesses. The IPA consists of three membership levels: Associate (AIPA), Member (MIPA), and Fellow (FIPA). An Associate membership allows one to have an Australian Advanced Accounting Diploma or a Bachelor of Accounting degree that may be Australian or similar in nature. MIPA membership includes an Australian Advanced Accounting Diploma, two years of full-time accounting or associated field work experience in the pre-IPA program and a mentored internship program. A FIPA membership requires 7 years of MIPA or equivalent status, and 10 years of accounting experience over the last five years must be at a senior level (“Institute of Public Accountants”).
According to CPA Australia, they are one of the largest accounting bodies in the world with over 150,000 members operating in 120 countries around the world, and with over 25,000 members serving in senior management roles (“About Us”). They provide information , training, advocacy and technical support. They were an early entrant to the Asian market, where their presence started in the early 1950s with the goal of improving and expanding the region’s accounting profession. As of today, approximately one-quarter of the leaders of CPA Australia live outside of Australia, with more than 35,000 in Asia. They currently have a workforce of nineteen in Australia, China , Hong Kong, Malaysia , Singapore , Indonesia, Vietnam, New Zealand, and the UK. Many applicants hold a postgraduate award recognised by CPA Australia to become a member of this program and demonstrate expertise in the relevant professional areas and successfully complete the CPA Program (“About Us”) within a six-year period. They will need to have three years of formal experience in banking, or company accounting. CPAs must also complete the Public Practice Curriculum of CPA Australia, which includes distance learning and a residential portion, and hold a Public Practice Certificate in compliance with the laws of CPA Australia, in order to provide public accounting services.