Accountancy Bodies
All accountants are regulated in order to ensure that they are qualified to practice by governing bodies. There are many different qualifications at different levels that accountants can take which are very hard and include a strict exam process. There are three types of accountant in the U.K. These are a Chartered Accountant, a Chartered Certified Accountant or an International Accountant. There are five accounting bodies recognised by the Department of Trade and Industry and for an accountancy firm to audit the accounts of a business they have to be a registered auditor. In the UK the oldest body is the Institute of Chartered Accountants in Scotland (ICAS) and the largest is the Institute of Chartered Accountants in England and Wales (ICAEW).