There are over 7,000 Chartered Accountants (CAs) who reside in the United States. While the Certified Public Accountant (CPA) is the primary accounting designation in the U.S., a significant number of professionals hold the internationally recognized Chartered Accountant qualification.
Understanding Chartered Accountants in the USA
Chartered Accountant (CA) is a professional accounting designation primarily recognized in the United Kingdom, Commonwealth countries (such as Canada, Australia, India, South Africa), and other parts of the world. It signifies a high level of expertise in financial management, auditing, taxation, and business advisory.
Why Are Chartered Accountants in the USA?
The presence of CAs in the United States reflects the global nature of the accounting profession and the international mobility of skilled professionals. Many individuals who qualified as CAs in their home countries may relocate to the U.S. for various reasons, including:
- Multinational Corporations: Working for international companies with offices in the U.S. that value globally recognized accounting expertise.
- Immigration: Professionals moving to the U.S. and continuing their careers.
- Dual Qualification: Some professionals may hold both CA and CPA qualifications to enhance their career opportunities in the U.S. market.
- Specialized Expertise: Bringing unique international accounting perspectives or industry-specific knowledge.
The Role of Professional Networks
Organizations play a crucial role in supporting Chartered Accountants in the U.S. For instance, the CAW Network USA is a non-profit professional and educational organization dedicated to serving the interests of CAs residing in the United States. These networks provide:
- Professional Development: Opportunities for continuous learning and skill enhancement.
- Networking: Connecting CAs with peers, industry leaders, and potential employers.
- Advocacy: Representing the interests of international accounting professionals.
- Resources: Providing guidance on navigating the U.S. accounting landscape.
You can learn more about their activities and resources for CAs in the U.S. on the CAW Network USA website.
CA vs. CPA: A Brief Comparison
While CAs are present in the U.S., the Certified Public Accountant (CPA) is the foremost and legally recognized accounting designation required for public accounting practice in the United States. Both designations involve rigorous examinations, practical experience, and ethical standards, but they originate from different regulatory frameworks.
Here's a brief comparison:
| Feature | Chartered Accountant (CA) | Certified Public Accountant (CPA) |
|---|---|---|
| Primary Region | United Kingdom, Canada, Australia, India, etc. | United States of America |
| Governing Body | Various national institutes (e.g., ICAEW, CPA Canada, CA ANZ) | American Institute of Certified Public Accountants (AICPA) and State Boards of Accountancy |
| Legal Authority | Professional designation, varies by country | Legal license required for public accounting practice in the U.S. |
| Focus | Financial reporting, auditing, taxation, business advisory | Financial reporting, auditing, taxation, business advisory, attestation services |
Many international accountants seek to understand the requirements for obtaining the CPA license in the U.S. to practice public accounting, as outlined by organizations like the AICPA.
In summary, while the CPA is the native qualification for accounting professionals in the USA, the presence of over 7,000 Chartered Accountants highlights the diverse and globally interconnected nature of the financial profession.
