Did you know that anyone – yes that’s right, ANYONE can call themselves an accountant, but not anyone can call themselves a Chartered accountant, so when choosing an accountant, it is important that you understand the difference. 

“Chartered Accountants” must be a member of one of the chartered institutes (here at The Peloton we are a member of The Institute of Chartered Accountants in England and Wales – or ICAEW for short). Although unqualified accountants are subject to the same laws as chartered accountants, ICAEW Chartered Accountants are bound by a Code of Ethics and subject to disciplinary procedures. They are required to hold a practising certificate and professional indemnity insurance if they offer professional services to the public. 

Becoming a Chartered Accountant requires a minimum of 3 years of rigorous exams and training. This is more than just learning how to get your balance sheet to balance and includes learning, understanding and applying a variety of topics including: 

  • Business Strategy 
  • Where are you going and how will you get there – not just looking at your year end, but by looking ahead to 1, 3 or 5 years’ time 
  • Tax Planning 
  • How to structure your business to keep your tax liability to a minimum. Including support on start-up, growth and exit plans 
  • Business Performance management 
  • How to get the best of your business, what should you be measuring and reporting on? After all what is measured is managed!  
  • Financial reporting 
  • What should be in the accounts and how should they be presented to comply with legal and regulatory obligations 

So wherever your business is in its lifecycle – start-up, growing or having reached maturity – a Chartered Accountant will have the knowledge and understanding to support you. 

At The Peloton all of our accountancy staff are either Chartered, Certified Chartered or training towards a chartered qualification and as such you can be sure that we will provide you and your business the absolute best advice and support that is available.