The Chartered Institute of Public Finance and Accountancy (CIPFA) is a UK based organisation for

accountant An accountant is a practitioner of accounting or accountancy. Accountants who have demonstrated competency through their professional associations' certification exams are certified to use titles such as Chartered Accountant, Chartered Certif ...

s who work in the public sector, accounting firms and other professional bodies where management of public funds are required. CIPFA is the only UK professional accountancy organisation who is dedicated to public financial management. They currently have approximately 14,000 members. They offer qualifications including a

professional qualification A professional is a member of a profession or any person who works in a specified professional activity. The term also describes the standards of education and training that prepare members of the profession with the particular knowledge and ski ...

for

public sector The public sector, also called the state sector, is the part of the economy composed of both public services and public enterprises. Public sectors include the public goods and governmental services such as the military, law enforcement, pu ...

accountants as well as a postgraduate diploma for people already working in management. CIPFA is a member of the Consultative Committee of Accountancy Bodies, the umbrella organisation for the British accountancy profession. It also belongs to the

International Federation of Accountants The International Federation of Accountants (IFAC) is the global organization for the accountancy profession. Founded in 1977, IFAC has 180 members and associates in 135 jurisdictions, representing more than 3 million accountants in public prac ...

. CIPFA's regional branches cover the

Channel Islands The Channel Islands are an archipelago in the English Channel, off the French coast of Normandy. They are divided into two Crown Dependencies: the Jersey, Bailiwick of Jersey, which is the largest of the islands; and the Bailiwick of Guernsey, ...

Europe Europe is a continent located entirely in the Northern Hemisphere and mostly in the Eastern Hemisphere. It is bordered by the Arctic Ocean to the north, the Atlantic Ocean to the west, the Mediterranean Sea to the south, and Asia to the east ...

Midlands The Midlands is the central region of England, to the south of Northern England, to the north of southern England, to the east of Wales, and to the west of the North Sea. The Midlands comprises the ceremonial counties of Derbyshire, Herefor ...

, North East, North West &

North Wales North Wales ( ) is a Regions of Wales, region of Wales, encompassing its northernmost areas. It borders mid Wales to the south, England to the east, and the Irish Sea to the north and west. The area is highly mountainous and rural, with Snowdon ...

Northern Ireland Northern Ireland ( ; ) is a Countries of the United Kingdom, part of the United Kingdom in the north-east of the island of Ireland. It has been #Descriptions, variously described as a country, province or region. Northern Ireland shares Repub ...

Republic of Ireland Ireland ( ), also known as the Republic of Ireland (), is a country in Northwestern Europe, north-western Europe consisting of 26 of the 32 Counties of Ireland, counties of the island of Ireland, with a population of about 5.4 million. ...

Scotland Scotland is a Countries of the United Kingdom, country that is part of the United Kingdom. It contains nearly one-third of the United Kingdom's land area, consisting of the northern part of the island of Great Britain and more than 790 adjac ...

, South East, South West &

South Wales South Wales ( ) is a Regions of Wales, loosely defined region of Wales bordered by England to the east and mid Wales to the north. Generally considered to include the Historic counties of Wales, historic counties of Glamorgan and Monmouthshire ( ...

and

Yorkshire Yorkshire ( ) is an area of Northern England which was History of Yorkshire, historically a county. Despite no longer being used for administration, Yorkshire retains a strong regional identity. The county was named after its county town, the ...

& the

Humber The Humber is a large tidal estuary on the east coast of Northern England. It is formed at Trent Falls, Faxfleet, by the confluence of the tidal rivers River Ouse, Yorkshire, Ouse and River Trent, Trent. From there to the North Sea, it forms ...

Designation

Members of CIPFA are entitled to style themselves "Chartered Public Finance Accountant" and use the designatory letters "CPFA". Members who have been elected as Fellow Members can call themselves "Fellow of the Chartered Institute of Public Finance and Accountancy" and use the abbreviation "FCPFA".

History

CIPFA began life as the Corporate Treasurers' and Accountants' Institute in 1885, which was later renamed the Institute of Municipal Treasurers and Accountants (IMTA) in 1901. This later became the Chartered Institute of Public Finance and Accountancy (CIPFA) in 1973 when it obtained its

Royal Charter A royal charter is a formal grant issued by a monarch under royal prerogative as letters patent. Historically, they have been used to promulgate public laws, the most famous example being the English Magna Carta (great charter) of 1215, but ...

Qualifications

CIPFA offers a range of qualifications; the "Professional Qualification" is intended for those working in and with public services in the UK. For people outside of the UK there are some International Public Financial Management qualifications; a "Certificate in Charity Finance & Accountancy"; and a "CIPFA Certificate Investigative Practice Qualification" aimed primarily at investigators who have some experience but who lack any formal qualification.

Membership

CIPFA students who have successfully completed the CIPFA Professional Accountancy Qualification and their Practical Experience Portfolio (PEP) are invited to apply for CIPFA Membership. Once membership is approved members can use the designatory letters ‘CPFA’ (Chartered Public Finance Accountant) for as long as they continue membership. Further routes to membership are available, for example for those with some accountancy qualifications but who must top-up with CIPFA qualifications. There are also arrangements in place with various other professional accountancy organisations where membership, by examination, of these bodies and an appropriate number of years experience in public finance will be regarded as suitable to progress to membership of CIPFA.

Mutual recognition

CIPFA and the Society of Management Accountants of Canada signed a

mutual recognition agreement Mutual recognition occurs when two or more countries or other institutions recognize one another's decisions or policies, for example in the field of conformity assessment, professional qualifications or in relation to crime, criminal matters. A m ...

in February 2004.

CMA/CIPFA dual qualification and designations

CIPFA and CMA Canada have a dual qualification which provides Canadian public sector employees with comprehensive financial management and

leadership Leadership, is defined as the ability of an individual, group, or organization to "", influence, or guide other individuals, teams, or organizations. "Leadership" is a contested term. Specialist literature debates various viewpoints on the co ...

training. On completing the programme, candidates can apply for dual public finance management and accounting designations as a Chartered Public Finance Accountant (CPFA) and

Certified Management Accountant Certified Management Accountant (CMA) is a professional certification credential in the management accounting and financial management fields. The certification signifies that the person possesses knowledge in the areas of financial planning, ana ...

(CMA) from CIPFA and CMA Canada respectively. CIPFA and

CPA Australia CPA Australia ("Certified Practising Accountant") is a professional accounting body in Australia, originally founded as the "Incorporated Institute of Accountants" in 1886. As of 31 December 2020, it has 168,736 members in 150 countries and regio ...

signed a mutual recognition agreement in June 2007. Although not strictly a form of mutual recognition, CIPFA members of 5 years standing may apply for direct entry to the Institute of Chartered Accountants in

England England is a Countries of the United Kingdom, country that is part of the United Kingdom. It is located on the island of Great Britain, of which it covers about 62%, and List of islands of England, more than 100 smaller adjacent islands. It ...

and

Wales Wales ( ) is a Countries of the United Kingdom, country that is part of the United Kingdom. It is bordered by the Irish Sea to the north and west, England to the England–Wales border, east, the Bristol Channel to the south, and the Celtic ...

subject to meeting certain criteria.This scheme is now closed for new applicants and is only available for re-submissions in 2016.
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CIPFA Group

The CIPFA Group includes, in addition to the main accounting body; Public Finance - a monthly magazine for the public sector; the in-house CIPFA Education and Training Centre with almost 3,000 students at locations across the UK, and works with other places of learning to provide courses locally; and a commercial services arm which provided advice and services for the public sector. They include information and guidance, courses and conferences,

property Property is a system of rights that gives people legal control of valuable things, and also refers to the valuable things themselves. Depending on the nature of the property, an owner of property may have the right to consume, alter, share, re ...

and

asset management Asset management is a systematic approach to the governance and realization of all value for which a group or entity is responsible. It may apply both to tangible assets (physical objects such as complex process or manufacturing plants, infrastr ...

solutions, consultancy and interim people for a range of public sector clients.

References

External links

*
Web archive

publicfinance.co.uk

Key Facts and Trends in the UK Accountancy Profession
annual publication by the

Professional Oversight Board The Financial Reporting Council (FRC) is an independent regulator in the UK and Ireland based in London Wall in the City of London, responsible for regulating auditors, accountants and actuaries, and setting the UK's Corporate Governance and ...

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