What is an accountant ?
Business leaders with broad:
Financial
Commercial
Managerial skills
Central to successful business
Services Provided
Financial planning & management
Taxation compliance & planning
Business advisory services
Auditing and assurance
Foreign exchange
Insolvency & reconstructions
Develop financial management systems
Main Areas of Practice
Public practice – general public, companies, governments &
other organizations, Fee for service
Particular organisation
Government – administer financial aspects of gov policy &
services
Big Four Firms
Deloitte Touche Tohmatsu
Ernst & Young
KPMG
PricewaterhouseCoopers
Professional bodies
Provide support & credibility to the accounting profession
Membership provides a mechanism for self regulation of the
industry to ensure the maintenance of competence levels,
ethical behaviour & other standards in the public interest.
3 major accounting bodies in Australia:
CPA Australia - one of the largest accounting bodies in the
world with more than 102 000 members and an 8000 strong
student base
minimum qualification is an undergraduate degree accredited
by CPA Australia.
You must join CPA Australia as an Associate member to be
eligible to enrol in the CPA Program.
You must have completed the CPA Program and have 3 years
of relevant mentored work experience
The Institute of Chartered Accountants in Australia
minimum educational level is relevant Australian university
degree, or other recognised qualification,
You must have completed the CPA Program and have 3 years
of relevant mentored work experience
National Institute of Accountants
5 Levels of membership
.
Membership of the NIA Student Register is open to any
student enrolled in Accounting from Secondary School
through to the completion of an Undergraduate Degree
or TAFE qualification.
Associate (ANIA) membership is the first step in NIA
membership.
Associates (ANIA) of the NIA are employed in a range
of roles such as Accounts Payable/Receivable,
Management Accounting and Taxation.
Member Level
Member (MNIA) status is the next level of NIA membership.
Members (MNIA) of the NIA are employed in a variety of roles such as Management Accounting, Taxation,
Public Practice, Teaching, Internal Audit, Financial Planning and Consulting.
The Member (MNIA) level of membership has a minimum entry requirement of:
a TAFE Advanced Diploma in Accounting plus the Graduate Certificate in Professional
Accounting plus three years work experience in accounting or in a related field; or
a Member of another professional association approved by the NIA for Member level; or
any other qualification (including non-Australian qualifications) approved by the NIA.
PNA Level
Professional National Accountants (PNA) are the highest qualified members of the NIA. The PNA
designation provides employers and clients with the guarantee that they are dealing with a trained
professional, who has met the academic, ethical and practical requirements of the NIA with an ongoing
commitment to Continuing Professional Education (CPE) ensuring high performance standards are
maintained.
The Professional National Accountant (PNA) level of membership has a minimum entry requirement of:
a TAFE Advanced Diploma in Accounting plus the NIA Postgraduate Program plus three
years work experience in accounting or a related field; or
a University degree with a three-year sequence in Accounting plus three years work experience in
accounting or a related field.
a Member of another professional association approved by the NIA for Member level; or
any other qualification (including non-Australian qualifications) approved by the NIA.
The Association of Accounting Technicians
provides professional recognition for support staff working in
accounting and finance with qualified accountants (PNA’s, CPA’s and
CA’s).
need to complete Certificate IV in financial services (accounting)
entry at student level encouraged
Other Prinicpal bodies involved in
Setting of standards
Regulating professional activity
Establishing and maintaining appropriate legal and economic
framework for distributing & trading of securities
Australian Accounting Research Foundation
Objectives are to:
improve the quality of auditing and assurance services in
Australia through the development of auditing and assurance
standards and guidance
contribute to the development of international auditing and
assurance standards and guidance
contribute to the development of legislation and regulation in
Australia in respect of commercial law, including corporate
governance, financial reporting and auditing matters
Australian Accounting Standard Board – sets standards for both pubic
and private sectors and has its own research and administrative staff
The Australian Securities and Investments Commission - ASIC
An independent Australian government body
enforces and regulates company and financial services laws to
protect consumers, investors and creditors.
has regulated financial markets, securities, futures and
corporations since January 1991