5 years' continuous membership, subject to compliance with Continuing Professional Development requirements. This practice is different to many other accounting bodies whose members may attain senior memberships only after demonstrating outstanding achievement or contribution made to the accounting profession or at large. Fellow members of ACCA use the designatory letters FCCA in place of ACCA. Continuing Professional Development Before 2005, Continuing Professional Development (CPD) was mandatory only for holders of 'Practicing Certificate' and 'Insolvency Licence'. From 2005 to 2007, ACCA phased in mandatory CPD requirements for all members. Legal and mutual recognition Europe United Kingdom and Ireland The ACCA or Chartered Certified Accountant qualification is fully recognised in both the United Kingdom and Ireland. Under its Charter, ACCA works in the public interest. It is a Designated Professional Body under the Financial Services and Markets Act, business activities. It is a Recognised Professional Body under the Insolvency Act to issue permits to individual Chartered Certified Accountants to conduct insolvency appointments. It is also a Recognised Qualifying Body and Recognised Supervisory Body in relation to company auditing under the Companies Act of 1989. ACCA is a member of the Consultative Committee of Accountancy Bodies (CCAB). Members of these bodies are deemed to hold equivalent-level qualifications and advertisements for jobs often state that an organisation is looking for a CCAB-qualified individual. Full members of CCAB organisations including ACCA could apply for ICAEW membership subject to certain criteria. Only ACCA, ICAEW, ICAS, Association of International Accountants (AIA) and Chartered Accountants Ireland (CA Ireland) are able to authorise members to conduct audit, insolvency and investment business work in both the United Kingdom and Ireland. Outside these countries, legal recognition by government authorities and mutual recognition by equivalent overseas institutes, varies. Where full legal or mutual recognition is not available, ACCA members can sometimes obtain advanced standing in terms of sitting local accountancy examinations. ACCA's strong global reputation may make it unnecessary to acquire a local designation. Similarly, many universities and educational providers recognise ACCA as equivalent to at least a Bachelor's degree in accountancy, for the purpose of obtaining credit towards a local master's degree or an advanced study program. The Quality and Qualifications Ireland (QQI) assigned ACCA Qualification to 'Level 8' of the Irish National Framework of Qualifications (NFQ) in 2018. Level 8 holds Irish postgraduate qualifications, such as postgraduate diplomas and master's degrees. In 2011, the Financial Reporting Council (FRC; then Professional