students to develop the professional knowledge, skills and attributes essential to qualify as a CA. In order to be eligible to enter training to become a chartered accountant, prospective CA students must hold a UK degree (or overseas equivalent). The UK NARIC provides a service to individuals seeking confirmation on comparability between international qualifications and UK qualifications. In addition prospective CA students must obtain a training contract with an authorised employer. Mutual recognition The institute has mutual recognition agreements in place with: Institute of Chartered Accountants in England and Wales Institute of Chartered Accountants in Ireland Canadian Institute of Chartered Accountants Institute of Chartered Accountants of Australia New Zealand Institute of Chartered Accountants South African Institute of Chartered Accountants Hong Kong Institute of Certified Public Accountants American Institute of Certified Public Accountants ICAS members may admit to full memberships of the above institutions after passing an aptitude test or subject to other specific requirements. Members of equivalent bodies in other European Economic Area member states and Switzerland may also be admitted to membership after passing an aptitude test, provided they are a citizen of an EEA state or Switzerland. A mutual recognition arrangement between the Institute and the Chartered Institute of Public Finance and Accountancy (CIPFA) was put in place in 1996, but was terminated by ICAS in 2005. Role of ICAS Under the Royal Charter, ICAS works in the public interest. The objective of ICAS is to uphold the integrity and standing of the profession of chartered accountancy in the interests of society and the membership, through excellence in education and the development of accountancy and through service to members and the enforcement of professional standards. ICAS is a Designated Professional Body under the Financial Services and Markets Act, licensing firms of CAs to conduct a range of incidental investment business activities. It is a Recognised Professional Body under the Insolvency Act to issue permits to individual CAs to conduct insolvency appointments. ICAS is also a Recognised Qualifying Body and Recognised Supervisory Body in relation to company auditing under the Companies Act 1989. ICAS is able to authorise members to conduct audit, insolvency and investment business work in the United Kingdom, Republic of Ireland and Luxembourg. This right is held in common with ACCA, ICAEW and the ICAI. ICAS is a member of The Global Accounting Alliance (GAA) – an alliance of the world's leading professional accountancy bodies, which