All about the Professional Accountants
In order to prepare qualified accountants and increase the prestige of accountant profession, in 2001 Lithuanian Association of Accountants and Auditors started trainings, for the first time in Lithuania, for accountants seeking a title of Professional Accountant.
Professional Accountant is the highest level accounting specialist. Accreditation of accountants and the provided title of Professional Accountant confirm:
- Professional competence of the accounting specialist;
- Capability of the accounting specialist to efficiently organize the accounting department of a company of any type or operating in any business sector, as well as consult on any accounting issue;
- Readiness of the accounting specialist to follow the requirements of professional ethics.
A person qualifying for the Professional Accountant title must correspond to the following requirements:
- Hold a university diploma or a diploma of higher education (in latter case work experience of at least 10 years in the field of accounting is required);
- Work experience of at least 3 years in the field of accounting, finance, economics or control within the last 10 years;
- If a person does not have a diploma of higher education it is necessary to have not less than 7 years of work experience in accounting, finance, economics or control in the last 10 years;
- Impeccable reputation (no trial records, no substance abuse);
- Passed 4 exams in order to acquire the title of Professional Accountant (accounting, law, tax and computer literacy);
- Accounting, tax and law exams have to be passed within the period of 5 years.
Documents Required for Registration:
LAAA’s professional accountant’s certificate does not meet the LR Accounting Law’s Article 10 in that period of time when LAAA is not a member of The International Federation of Accountants (IFAC). LAAA seeks membership in IFAC, and when it becomes a member of the IFAC, LBAA professional accountant certificates will correspond to LR Accounting Act.