What are the different between ICA( Institute of Chartered Accountants in Australia) and CPA and compare which is better?
training.
Only a chartered accountant can perform an audit.
Many CFOs are chartered accountants.To be a CPA or a chartered accountant, you must have a degree as well as CPA or ICA post-grad studies.
Jenny,
While I am a CA, I do not see much difference as you can get good and poor with either branch of the accounting profession. The CPA tend more to small private practice and the CA tend to be employed more in large companies but they both have post graduate qualifications.
If you are looking for accounting and tax advice, check who their clients are, what areas do they specialise in, are they property investors themselves and ask some specific questions to see if they know their stuff.I have been to accountants (so I can refer clients to) and asked – revalue an investment property and refinance a loan, use the additional equity as a deposit for their PPOR – is it new loan deductible? You will be surprised how many do not know basics like that.
Good luck
GregHi Jenny,
I'm a CA, and the main difference to me is that the CA training was much harder than the CPA training. The CPA's have closed the gap in the last few years, but the CA training program is still favoured by the big accounting practices, and big organisations such as Telstra and the big banks.
The two bodies have tried to merge three times. The CPA's have voted yes three times, and the CA members have voted no three times. The reason for this, in my opinion, is that the CA (especially the younger ones with fresh memories of their training!) don't want to give the same designation to CPA's, who have completed (again, in my opinion) inferior training.
so say all the CA’s that I know as well.
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