 If working in public practice, these qualified accountants must comply with additional regulations such as holding professional indemnity insurance (as accountants are one of the professions most at risk of professional indemnity) and submitting to regular and independent inspections.CCAB-qualified accountants is an informal shorthand for full members of any of the UK accountancy bodies formed by royal charter.All six of these bodies founded the Consultative Committee of Accountancy Bodies in 1974; CIMA left after 2011, but its members may still be intended when this phrase is used.