A profession arises when any trade or occupation transforms itself through "the development of formal qualifications based upon education, apprenticeship, and examinations, the emergence of regulatory bodies with powers to admit and discipline members, and some degree of monopoly rights." Professions are typically regulated by statute, with the responsibilities of enforcement delegated to respective professional bodies, whose function is to define, promote, oversee, support and regulate the affairs of its members. These bodies are responsible for the licensure of professionals, and may additionally set examinations of competence and enforce adherence to an ethical code of practice. Typically, individuals are required by law to be qualified by a local professional body before they are permitted to practice in that profession. However, in some countries, individuals may not be required by law to be qualified by such a professional body in order to practice, as is the case for accountancy in the United Kingdom (except for auditing and insolvency work which legally require qualification by a professional body). In such cases, qualification by the professional bodies is effectively still considered a prerequisite to practice as most employers and clients stipulate that the individual hold such qualifications before hiring their services.
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