What Is The Difference Between Chartered And Non-Chartered Accountants? 

Both chartered and non-chartered accountants can help you manage your finances and run a business smoothly and efficiently, given the fact that they basically have the same duties and responsibilities, although the non-chartered accountants do face some limitations. That being said, the main difference is that a chartered accountant has completed additional, post-graduate education (24 months) along with an extensive period of mentored practical experience of three more years, under the close supervision of a more experienced chartered accountant.

In terms of education, both the chartered and the non-chartered accountant have at least a Bachelor’s Degree in any finance-related field, although the chartered accountant has taken his education a mile further through the five more years of training mentioned above. Nowadays, chartered accountants can be found in virtually any field of business, from the public and private accounting sector to management and government accounting.

Amongst their main duties and responsibilities, these professionals need to keep track of the company’s record of investment, they must prepare detailed financial reports and documents, assess the potential financial risk that a company exposes itself at prior to making major investment and such. These professionals are often consulted and asked to provide their professional opinions on different financial matters.

In addition to the difference in training and education, there is another difference in terms of responsibilities. The non-chartered accountant cannot do the audit, as this duty belongs exclusively to the chartered accountant who can sign up for the ticket required to do the audits. By achieving the status of chartered accountant, it means that the professional in question has managed to rise to the training and education standards set by the institution that offers such designations, and that he can perform all the tasks of a non-chartered accountant and much more.

There is also a small difference in terms of the hourly fee/monthly rate these professionals charge, and for a good reason – given the advanced training and qualifications of the chartered accountants, it is perfectly understandable that they tend to charge more. If you opt for a non-chartered accountant to advise you on different financial matters, you might need the help of a third party for the audit.

In New Zealand, you can use both the chartered and the non chartered accountant for small and medium-sized businesses without any problem. As a matter of fact, many business owners choose to hire both of them – the non-chartered accountant to fill the financial books and to perform basic accounting and financial management tasks, and then the chartered accountant for the audit. However, this often turns out to be more expensive than hiring a chartered accountant alone.

If you are a business owner and you do not want to make any compromise in terms of finances and taxes, then it is highly recommended to opt for chartered accountants in Wellington who can help you run your business smoothly and give you the peace of mind you need. You can rest assured knowing that a skilled and highly trained professional does all the work on your behalf and all your taxes and expenses are carefully managed.