 Only certain functions are restricted to professionally qualified accountants; for example, individuals who operate in the areas of audit and insolvency must be registered, and only members of certain accountancy bodies are eligible for such registration.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.