The Company's History and Constitution

The Company's History and Constitution

Livery Companies date back a long way, but their work is as relevant today as ever. Many have their roots in medieval trades and crafts, but individual Companies have grown and adapted to meet the needs of today, supporting their trades and professions.

Some Companies have their origins in the twelfth and thirteenth centuries whilst others, like ours, are modern. Our Company was originally created as an unincorporated Guild in 1975 and became a Livery Company in April 1977, with Ordinances approved by the Lord Mayor and Court of Aldermen, being 86th in the historic order of precedence of Livery Companies.

We were later incorporated by a Royal Charter granted by Her Majesty the Queen and dated 6 September 2012. The Royal Charter was presented to the Company by the Lord Mayor, on behalf of the Queen, in Guildhall on 10 September 2012.

The Lord Mayor presenting the Royal Charter to the Immediate Past Master

A Copy of the Royal Charter and Ordinances can be found here.

The Company's principal objects are to foster the profession of accountancy and to provide social intercourse and mutual information between members of the Institute of Chartered Accountants in England and Wales. Only members of the Institute may become members of the Company. We, like all Livery Companies, seek to promote in each generation the standards, skills and talents which our profession represents. Livery Companies reach out the hand of fellowship within the City of London and beyond, through service and through a united commitment to the values of common life. Livery Companies are marked for the generosity of their charitable work which including our own, contribute to the UK's business community.

To further our objectives the Charter enables The Company to exercise the role of a Livery Company within the City of London, particularly to participate in the governance of the City of London and support the Lord Mayor and Aldermen. The Company is also empowered to promote honourable professional practice and to encourage the settlement of disputed points of practice and courtesy, and ethical behaviour in conducting accounting business of all kinds, aiding and assisting the Institute and other societies connected with the profession of accountancy with regard to professional, benevolent and social matters. 

The Company is enabled to manage its affairs and assets generally, to arrange events, to create and accumulate funds for appropriate purposes generally, including education and research projects. 

Bylaws scheduled to the Charter deal with the Company's membership and governance, including general meetings and accounts. The Bylaws may be changed only with the permission of the Court of Alderman and the Privy Council. The Bylaws permit the Company's Court (with the permission of the Court of Aldermen) to make Ordinances for proper management and conduct of the Company. 

Ordinances were made by the Court of the Company with the consent of the Court of Aldermen on 9 October 2012.