Membership of a professional body matters in today’s global economy. In a global business culture that relies on trust to function, professional qualifications and membership of a respected body are essential for success.

Most people could never trust a dentist, doctor or lawyer who was not professionally qualified — or did not have a professional designation — and was not a member of a recognised body.

All of these are professions that need top qualifications to succeed, and accountancy is no different. Currently membership of the global professional body for accountants ACCA (the Association of Chartered Certified Accountants) has grown to more than 200,000. This is a milestone achievement showcasing how our members have helped to lead and advise organisations of all sizes across geographic and economic sectors over the last 113 years.

Membership bodies and professional qualifications have real value in these economically challenging times. Ultimately they bring benefits to society, to business, to the clients who use them, and to their own members. When doing business with a member of a professional body, there is a guarantee that that person will be well trained and will practise with professionalism.

Professional bodies provide extra security for everybody. For consumers, they offer the opportunity to redress problems they have experienced with a member, if that member has breached the codes of conduct of his or her professional body. ACCA and other leading professional bodies all have dedicated teams of qualified lawyers who will investigate and try to resolve problems that are brought to their attention.

In some instances, if there is a breach of the code of conduct, this can involve the individual or company under scrutiny being fined or removed from membership of the body.

Professional bodies are not only there to provide protection for the public; they can bring big benefits for members too, particularly the improved credibility a professional can gain from membership of a prestigious body.

When there is more than one body representing your profession, it is important that you choose the one best placed to enable you to develop your career and meet your long-term goals.

A good professional body will have tough but business-relevant and globally recognised qualifications at the end of its courses. Hard-earned qualifications and membership of a top body will be recognised in your chosen profession, and this recognition will only increase your standing in the eyes of your peers and bosses. Importantly, this could make the difference when your bosses decide if you or a similar professional gets the promotion.

A career in accounting is not the only destination for those with an accounting qualification. These many qualified finance professionals in fact progress into senior positions in other types of organisations, from banking and regulation to government and academia. Many of the skills taught on the course are ‘transferrable’. Qualifications like the ACCA equip people with skills and tools needed to achieve their dreams.

With increasingly globalised markets, finding a qualification that is recognised worldwide is very important. A global qualification allows greater mobility between sectors and countries, as well as making a candidate more attractive to employers.

A top professional body’s involvement with their members should not just finish once they have completed their exams or handed in their membership fees. ACCA, for example, requires its members that provide services to the public to adhere to certain regulations that are intended to protect the public. These members may also be subject to inspections by ACCA staff who understand how accountancy firms operate, and are able to assess whether the members have complied with relevant rules, regulations and standards.

Importantly, membership of a professional body provides an individual the opportunity to progress to senior positions in public practice, the corporate sector and government and, because of the position reached, contribute to the influencing and shaping of policy decisions at government or regulator level.

Professional bodies act as a ‘critical friend’ to policymakers using their membership base and considerable collective expertise to inform, educate and influence at the very highest levels.

Looking to the future, ACCA is currently being studied by 486,000 students worldwide. Job prospects for these individuals are promising. With much of the ACCA course centred on ethics and professionalism, qualified accountants are in high demand in the Caribbean.

ACCA members can be found working in the world’s leading accountancy firms — ‘the Big 4’ as they are known — as well as for multinationals — from Shell to JP Morgan — as well as for any number of small businesses or small accountancy practices.

Whilst it takes time, effort and money to be the member of a good professional body, the benefits from that membership will make it more than worthwhile.

Having experienced the outstanding benefits of ACCA in the early 1970s, I was driven to do all I could to encourage this type of professionalism and so, having served on the Council of the Institute of Chartered Accountants of Jamaica, I strongly supported improving the link with the ACCA by way of the Joint Scheme Examinations, of which I am told Jamaica was the first.

But it did not stop there as I appreciated the emphasising of the local professional stamp while illuminating the global image. This resulted in my leading the committee that brought into being the Institute of Chartered Accountants of the Caribbean in October of 1988.

This is the umbrella body of the Accountancy Bodies of the Caribbean which provides not just the regional link of professional accountants but, in addition the educational and ethical training, also establishes the necessary social link via its annual conference which moves from territory to territory around the Caribbean.

It is therefore safe to say that the professional accountant, being a member of one or more accountancy bodies such as ACCA, is certainly well rounded and accordingly can be found in all sectors of a country’s economy, from Cabinet ministers in Government to all other positions of influence in the public or private sector. I will therefore encourage anyone desiring to enter this profession to do so by membership into one of the recognised bodies such as ACCA.

Aulous Madden is senior partner of PKF-Aulous F Madden & Company and has been an ACCA member for more than 43 years.