The financial sector encompasses a range of products and services dedicated to assisting individuals and businesses. As there is such a volume of bodies and organisations operating within this sector it is easy to become lost when trying to find the right people for the job.
A variety of financial associations exist to unite and represent groups and principles within the financial sector. The following article provides information on three of these associations and how they can help you today.Institute of Chartered Accountants in England and Wales
The Institute of Chartered Accountants in England and Wales (or ICAEW for short) is Britain’s main organisation acting for accountants. As well as being Britain’s main organisation the ICAEW is also the largest in Europe with over 120,000 members.
The ICAEW was formed at the close of the nineteenth century when accountants form across England became incorporated by Royal charter. The ICAEW’s members work in over 140 different countries with many of its members living outside of the UK. The ICAEW is also supportive of the new generation of accountants and provides many students with tuition.
As well as assisting and educating students the ICAEW offers continual development programs and is also influential in determining and upholding ethical standards across the industry. The ICAEW’s qualification is well known across the world as a mark of distinction. Individuals who achieve this receive the title of chartered accountant and usually have the initials ACA or FCA after their name.British Banker’s Association
The British Bankers Association (or BBA for short) is Britain’s main body acting for banks. The BBA has over 200 members from across the financial services sector.
With Britain being the world’s leading financial centre the BBA is in contact with representatives from all over the globe. The BBA has extensive membership throughout Europe and is involved in representing its members and keeping them informed with issues regarding new legislation, regulations and consumer issues. The BBA has a strong commitment to its members and reflects this by raising awareness and safeguarding the UKs position in the financial sector.
The BBA is a not for profit organisation that does not conduct any industry regulation. The BBA also does not provide any banking services to its members or non members alike.R3 - Association of Business Recovery Professionals
R3 is the trading name for The Association of Business Recovery Professionals, a representative body acting on behalf of companies that help people resolve debt related issues. R3 provide individuals and businesses advice and services to help eliminate their problems.
With its wide range of qualified and regulated members R3 has combined experience of helping a large amount of businesses and people leave their debt problems in the past. R3 is Britain’s leading association for insolvency services promoting high standards throughout the debt recovery sector. As well as upholding the values of debt recovery within the industry R3 has also represented the views of its members in government helping to make a difference to the enterprise act in 2002.
R3 can draw on the experience of its members to find solutions for a broad range of situations. R3 members can use their skills to fulfil a range of roles working internally for companies and also representing them in official meetings. Roles and services R3 have provided include taking on the role of independent chief executives to representing individuals in bankruptcy and insolvency hearings.