The FCA full form is Fellow Chartered Accountant. It is awarded to graduates who have passed the Chartered Accountant (CA) final examination and have sizeable experience working in the accountancy field. It is given to candidates who become CAs after Associate Chartered Accountants (ACAs). Furthermore, FCA is awarded to individuals who have over 5 years of experience in government bodies or reputed organisations. Usually, FCAs have more benefits than ACAs because the former can enter into the Institute of Chartered Accountants of India (ICAI) council, whereas the latter cannot. Additionally, FCAs have more audit job opportunities than ACAs, owing to their prior experience of more than 5 years.
To become an FCA, a candidate must clear the three examination levels of the ICAI CA course. To complete this course, an individual must have a bachelor’s degree. After completion of an undergraduate course, the candidate becomes ready to work as a CA. Additionally, a person can also become an FCA after completing levels I, II, and III of the Chartered Financial Analyst (CFA) certification.
Also Read: How to Pursue CA Course after 12th?
FCA Eligibility Criteria
To become a successful FCA, one must meet the following eligibility requirements:
- Clear Common Proficiency Test (CPT), Intergovernmental Panel on Climate Change (IPCC), and CA finals with good marks or CFA Certification
- ACA membership
- More than 5 years of work experience in taxation, accounting, finance management, and commerce
Also Read: CA Foundation 2023
CFA v/s CA
There are no significant differences between a Chartered Accountant and Chartered Financial Analyst as both professionals majorly deal in taxation, accounting, finance management, and commerce. However, there are a few unique differences between the two. These differences are tabulated below:
|Parameters||Chartered Accountant||Chartered Financial Analyst|
|Conducting Authority||ICAI||CFA Institute|
|Average Time to Clear||4 to 5 years||1.5 to 4 years|
|Average Registration Fees||INR 1 lakh||INR 1 to 2 lakh|
|Average Salary||INR 7 to 20 lakh||INR 12 to 20 lakh|
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