Who are the CCAB?
As a result of the GDPR Regulations, our engagement letter templates from our governing body, the ACCA include a reference to the CCAB. So who ARE the CCAB?
The Consultative Committee of Accountancy Bodies (CCAB) is an umbrella group of chartered professional bodies of British qualified chartered accountants. Members of the Committee include the following associations:
- The Association of Chartered Certified Accountants (ACCA)
- The Institute of Chartered Accountants of England and Wales (ICAEW)
- The Chartered Institute of Public Finance and Accountancy (CIPFA)
- The Institute of Chartered Accountants of Scotland (ICAS)
- Chartered Accountants Ireland
As you can see, it’s a pretty illustrious group!
They operate with four strategic objectives, which include:
- Advising relevant authorities on behalf of the combined UK Accounting Profession.
- Maintaining and developing CCAB’s identity as the collective voice of the UK profession.
- Providing a mechanism for influencing the global profession by representing the views of the UK profession.
- Facilitating joint project based thought leadership, technical work and research on behalf of the UK profession.
Membership of one of the Associations within the CCAB provides significant reassurance to business owners and clients. There is no protection of the term ‘accountant’ and it can be used by anyone, whether they are qualified or not, professional or not, ethical or not.
Membership of one of the CCAB member Associations provides peace of mind for many reasons, including the following:
- To gain qualification members complete rigorous training.
- To retain membership, members must satisfy continuous training requirements.
- Members are routinely inspected, to ensure the quality of their work.
- It is a mandatory requirement to have Professional Indemnity insurance, against which claims can be made in the event of errors or mistakes.
We would always recommend using a professional regulated firm, not just because we are, but because there can be dramatic consequences if you don’t and things go wrong!
To find out more about the CCAB, you can visit their website.
To find out more about our governing body, the ACCA, you can visit their website.