Types of Accountants and Their Roles Explained

Types of Accountants: Roles, Specialisms and Qualifications

An accountant is a trained professional responsible for managing, recording, analysing, and reporting financial data. Whether it’s preparing tax returns, auditing company accounts, or forecasting business growth, accountants play a crucial role in both private and public sectors.

However, not all accountants do the same job. There are many types of accountants, and they can differ by qualification, area of specialism, industry sector, and regulatory body.

What Are the Different Types of Accountant?

The main types of accountants can be categorised based on their role and the sector they work in. Here are the most common:

1. Management Accountant

Works inside a business to help with budgeting, cost control, performance evaluation, and strategic planning. Usually qualified through CIMA.

2. Financial Accountant

Focuses on external reporting, such as preparing financial statements and statutory accounts in line with legal and regulatory requirements.

3. Tax Accountant

Specialises in tax compliance and planning for individuals, businesses, and corporations. They often work to minimise tax liabilities within legal boundaries.

4. Auditor

Independently checks financial records for accuracy and compliance. External auditors work for audit firms, while internal auditors are employed within larger organisations.

5. Forensic Accountant

Investigates fraud, financial misconduct, or disputes. Often involved in legal proceedings, insurance claims or criminal investigations.

6. Bookkeeper (or Accounting Technician)

Handles day-to-day recording of financial transactions, often under the supervision of a qualified accountant. Frequently AAT qualified.

7. Chartered Accountant

A broad term used for fully qualified accountants who are members of a recognised professional body (e.g. ICAEW, ACCA, ICAS). They can work in a variety of roles across sectors.

What Are the Specific Areas Accountants Can Specialise In?

Accountants can specialise in particular disciplines or industries. Some of the most common specialisms include:

• Corporate finance (mergers, acquisitions, investment)

• Insolvency and restructuring

• Payroll and pensions

• VAT and indirect tax

• Business advisory and start-up services

• Public sector finance (local councils, NHS, government grants)

• Environmental accounting (sustainability reporting)

This allows them to develop deep expertise and add value beyond general compliance or reporting duties.

What Are the Different Bodies of Accountants?

In the UK, the main professional bodies include:

• ICAEW – Institute of Chartered Accountants in England and Wales

• ICAS – Institute of Chartered Accountants of Scotland

• ACCA – Association of Chartered Certified Accountants

• CIMA – Chartered Institute of Management Accountants

• AAT – Association of Accounting Technicians (technician-level)

• CIPFA – Chartered Institute of Public Finance and Accountancy (public sector)

Each body has its own qualification route, exams, practical experience requirements, and continuing professional development (CPD) obligations.

Public Accounting vs Government vs Private Sector vs Self-Employed Accountants

These categories define the context in which accountants operate:

Public Accounting

Involves working for a firm that provides services to clients. These might include auditing, tax advisory, and consulting. Examples: Big Four firms (PwC, Deloitte, EY, KPMG) or mid-tier practices.

Government Accounting

Accountants who work within the public sector—such as HMRC, NHS finance departments, or local councils. They focus on budget compliance, grants, and taxpayer money management.

Private Sector Accounting

In-house accountants employed by companies to manage internal finances, reporting, compliance, and forecasting. Roles range from assistant accountant to finance director.

Self-Employed / Practice Accountant

Runs their own firm or works as a freelancer offering services like bookkeeping, tax returns, payroll, or business advice—often to small businesses and sole traders.

How Is a Chartered Accountant Different From a Non-Chartered Accountant?

A chartered accountant is a fully qualified professional who has completed a recognised training programme, passed advanced exams, and met experience requirements with a professional body such as ICAEW, ACCA, or CIMA.

Non-chartered accountants, while still capable and experienced, may not have the same formal accreditation. They might hold practical roles such as bookkeepers, part-qualified accountants, or those with unregulated experience.

The key differences include:

• Regulated status: Chartered accountants must adhere to a code of ethics, CPD requirements, and professional standards.

• Scope of services: Only chartered accountants can legally sign off on certain reports (e.g. audit reports in limited companies).

• Recognition: Chartered status adds credibility, especially for businesses seeking high-level advice or investment.

• Career access: Certain senior roles, especially in listed companies or large firms, require chartered status.

Conclusion

Accounting is a broad profession with many roles and routes. Whether you're dealing with management accounts, tax advice, auditing, or strategic consultancy, the right accountant will depend on your needs and industry. Understanding the different types of accountants—and the distinction between chartered and non-chartered—helps individuals and businesses make informed decisions about financial management and compliance.