ACCA vs Chartered Accountants Ireland: What Is the Difference?

ACCA (the Association of Chartered Certified Accountants) and Chartered Accountants Ireland (the Institute of Chartered Accountants in Ireland, often shortened to CAI) are two professional bodies for accountants. In Ireland both are recognised accountancy bodies supervised by the Irish Auditing and Accounting Supervisory Authority (IAASA), and both can authorise members to act as statutory auditors. For most small businesses, the qualification matters less than the accountant’s experience, regulation and the services they actually provide.

We are writing this as an ACCA-certified practice. Bradán Accountants is not a member firm of Chartered Accountants Ireland, so this is an honest comparison rather than a sales pitch for one body.

Who are the two bodies?

Chartered Accountants Ireland is an all-island body whose members use the title chartered accountant and the letters ACA or FCA. ACCA is a global body with members in many countries, including a large membership in Ireland. Its members use the title chartered certified accountant and the letters ACCA or FCCA.

Both require exams, practical experience and continuing professional development every year, and both have codes of ethics and disciplinary processes. Members who offer accountancy services to the public need a practising certificate from their body.

How IAASA regulates accountancy bodies in Ireland

IAASA oversees the bodies that regulate accountants. It lists five prescribed accountancy bodies: ACCA, AIA, Chartered Accountants Ireland, CIMA and CIPFA. Two of these, ACCA and Chartered Accountants Ireland, are also recognised accountancy bodies, which means they can approve members to act as statutory auditors under the Companies Act 2014.

Does it matter which one your accountant belongs to?

For bookkeeping, annual accounts, income tax returns, corporation tax, VAT and payroll, both qualifications prepare accountants to a professional standard. The difference you will notice day to day comes from the firm itself: how quickly they respond, whether they know your sector, and whether they use cloud software such as Xero to keep your records current.

It matters more if your company needs a statutory audit. Only a statutory auditor, approved through a recognised body such as ACCA or Chartered Accountants Ireland, can sign an audit report. Many small private companies qualify for audit exemption, so check whether you need an audit before choosing on that basis.

What to check when choosing an accountant

• Membership: ask which body they belong to and whether they hold a current practising certificate.
• Experience: ask how many clients they have in your sector, and at your stage of growth.
• Scope: confirm exactly which filings are included, such as the CRO annual return, Form 11, CT1 and VAT returns.
• Software: check whether they support your accounting software or can help you move to cloud accounting.
• Fees: ask for a written engagement letter that sets out fees and deadlines before work starts.

Talk to us

If you are comparing accountants, or thinking about switching accountant, we are happy to explain what we would do for your business and what it would cost. Our Galway and Dublin teams look after accounts, tax and payroll for Irish companies and sole traders.

Official sources

• IAASA: Prescribed accountancy bodies (iaasa.ie/prescribed-accountancy-bodies/)
• IAASA: What is the difference between a prescribed and a recognised accountancy body? (iaasa.ie/faqs/)