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Worldwide recognition of ICAEW.

The Institute of Chartered Accountants in England and Wales (ICAEW) is the largest professional accountancy body in Europe, with over 126,000 members.

Around 3,000 new members qualify each year and the ICAEW's prestigious qualifications are recognised around the world, allowing members to call themselves chartered accountants and to use the designatory letters ACA (Associate) or FCA (Fellow).

The Institute operates under a Royal Charter, working in the public interest. Its primary objectives are to educate and train chartered accountants, to maintain high standards for professional conduct among members, to provide services to its members and students, and to advance the theory and practice of accountancy.

Here are some key dates in the Institute's history:

March 24, 1880 ( A Royal Charter of Incorporation is granted for the formation of a new body called the Institute of Chartered Accountants in England and Wales.

May 11, 1880 ( The Royal Charter Order in Council is signed by Queen Victoria, creating the Institute of Chartered Accountants in England and Wales (ICAEW).

May 26, 1880 ( At the ICAEW's first meeting, WG Howgrave, secretary of the old Institute of Accountants, is appointed secretary at a salary of pounds 400 per year. A clerk is appointed to assist him at a salary of 18 shillings per week.

1881 ( A member is formally censured under the ICAEW's new disciplinary powers for advertising for work in liquidation cases.

1883 ( The ICAEW Council is criticised for not protesting against the new Bankruptcy Act, which removes insolvency, a main sources of revenue, from accountants.

1884 ( The ICAEW Council decides to raise the standard of new entrants by making the entrance examinations more difficult.

1886 ( The Chartered Accountants' Benevolent Association is established to help ICAEW members in difficulty.

1888 ( The ICAEW refuses the membership application of Mary Harris Smith, the first by a woman.

1890 ( The architect John Belcher RA, wins an open competition to design a new headquarters for the Institute, to be called Chartered Accountants' Hall, in Moorgate Place in the City of London.

1893 ( Chartered Accountants' Hall is opened by ICAEW President Edwin Waterhouse.

1903 ( A Revenue Act is passed, limiting the right of audience before the Commissioner of Taxes to members of `an incorporated body of accountants' only.

1909 ( President of the Board of Trade Winston Churchill requests the ICAEW to admit women members.

1914-18 ( The First World War brings an increase in accountancy work and accountants gain expertise in managing companies and banks. Wartime taxes increase the amount of taxation work available to accountants.

1915 ( The work of chartered accountants is recognised as being of national importance.

1919 ( The Sex Disqualification (Removal) Act is passed and Mary Harris Smith joins the ICAEW to become the first woman chartered accountant in the world.

1924 ( Miss Ethel Watts becomes the first woman chartered accountant to be admitted to the ICAEW by examination.

1930 ( 50th anniversary of the ICAEW.

1939-45 ( Some 3,000 ICAEW members serve with the armed forces in the Second World War. Others are sent to work in the mining industry as `Bevin Boys'.

1945 ( The ICAEW organises weekend `refresher' courses and regional lectures for returning servicemen in the profession. This develops into the Continuing Professional Development programme still operating today.

1955 ( The Society of Incorporated Accountants and the ICAEW agree merger terms.

1959 ( Architect William Whitfield is commissioned to extend Chartered Accountants' Hall, with the inclusion of a Great Hall for large meetings.

1964 ( The ICAEW Council sets up a committee to reappraise education and training policies.

1970 ( The newly-extended Chartered Accountants' Hall is officially opened by the Queen Mother.

1980 ( Centenary of the ICAEW.

1984 ( The ICAEW opens a second building in Milton Keynes.

1999 ( The ICAEW launches the Everybody Counts initiative to highlight voluntary work by chartered accountants in local communities. The following year the Everybody Counts Awards scheme is introduced to recognise and support this work.

2003 ( Eric Anstee appointed first Chief Executive of the ICAEW.

2004 ( The ICAEW opens consolidation talks with the Chartered Institute of Public Finance and Accountancy and the Chartered Institute of Management Accountants.

2005 ( 125th anniversary of the ICAEW.
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Title Annotation:Business
Publication:The Journal (Newcastle, England)
Date:Mar 31, 2005
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