I have worked in Finance now for over 10 years, qualifying as an ACCA 3 years ago. I would really like to work for myself one day soon, but as I have always worked in industry rather than practice I do not have the necessary experience to apply for an ACCA practising certificate, which all ACCA members in practice must have. I have been applying for practice jobs for the last 3 years (since qualifying) but have had no success.
I am therefore left with 4 options:
1. Resign my ACCA membership and set up in Practice. I can still call myself an Accountant (as can anyone!!) but obviously I really don’t want to throw away all the hard work and sacrifice I spent studying for 5 years!
2. Resign my ACCA membership and join the AAT, their guidelines seem a lot less stringent!
3. Work within the ACCA guidelines, only doing basic bookkeeping etc.
4. Set up a Practice as a LTD company with my wife as Managing Director and employing me as an Accountant. Not sure if this would work but technically I would be an employee not a partner or director in an Accountants firm so I could continue to be an ACCA member but would not need a practising certificate (I think?).
Does anyone have any suggestions/advice particularly on the legal/ethical position of option 4 above? I really don’t want to give up my ACCA membership, nor do I want to mislead any clients. All I want to do is work for myself and give clients comfort that I am a qualified experienced accountant, who knows what he is doing, along with maintaining the recognition for all my hard work.