A Beginners Guide to ICAEW: Function and Key Advantages

ICAEW (The Institute of Chartered Accountants in England and Wales) was established on May 11, 1880, in London, England. Earlier, it was known as “The Institute of Accountants in London.” In 1882, the group’s name was modified to better reflect its broad appeal.

As one of the most well-known and established accounting associations worldwide, the ICAEW is tasked with setting and maintaining high standards of professionalism and ethics for its members.  The Associate Chartered Accountant (ACA) credential was created by ICAEW and has grown to be one of the most prominent in the accounting industry. It has consistently modified its certification processes to accommodate the evolving demands of the industry.

How does the ICAEW Work?

ICAEW is a professional membership organization and the English and Welsh regulatory authority for chartered accountants. These are a few of the significant tasks done by ICAEW.

Education and Training

ICAEW offers training and educational programs for people who want to become chartered accountants (CAs). Academic credentials like the ACA (Associate Chartered Accountant) credential fall under this category. To get certified as an ACA, candidates must complete a battery of demanding tests covering numerous facets of accounting, finance, and business in addition to accumulating real-world job experience.


Those who successfully finish the ACA qualification and adhere to the moral and professional standards of the organization are eligible to join ICAEW and use the title “Chartered Accountant” (CA). There are several membership categories offered by ICAEW, each with certain requirements, such as student, affiliate, and full member.

 Continuing Professional Development (CPD)

Continuing Professional Development, or CPD, activities are required to be attended by ICAEW members in order for them to stay up-to-date on market developments. Members can advance their knowledge and skills by taking advantage of seminars, classes, and other educational opportunities.

ICAEW Membership: A Quick Overview 

ICAEW has various membership categories, and at present, the organization has about 1,66,000 members worldwide. An outline of ICAEW membership benefits is provided below.

Types of ICAEW Membership

There are three types of membership that ICAEW provides for individuals. 

  • Student Membership
  • ‍Affiliate Membership 
  • Full Membership (Chartered Accountant)

The Key Advantages of ICAEW Membership

  • Professional Recognition: Membership in the ICAEW is a distinguished title that is highly regarded in the accounting and finance fields. It exhibits a high degree of professionalism, ethics, and dedication to standards.
  • Career Growth: Membership in ICAEW provides access to a multitude of professional prospects. Over 147 countries recognize and value the CAEW’s ACA certificate, making it a desirable credential for professions in other countries. The ACA certification and ICAEW membership are highly valued by employers, who may even mandate them for their financial and accounting staff members.
  • Access to Resources: Members have a wealth of resources at their disposal to support their work and professional development, including publications, research, technical guidance, and online tools.
  • Continuing Professional Development (CPD): To stay up-to-date on industry developments and preserve their professional competence, members of ICAEW are strongly encouraged to take part in CPD programs. The institute provides numerous CPD opportunities.
  • Networking Opportunities: ICAEW hosts conferences, seminars, and events that allow members to meet colleagues, exchange ideas, and expand their professional networks.
  • International Recognition: For individuals looking for work prospects overseas, the highly recognized ICAEW membership and qualifications can be helpful.

So, these are the key advantages of ICAEW membership. This is the first part of the guide where we provided a brief overview of ICAEW; in the next post, we will talk about the process of how to login to ICAEW.