Hi I run a small practice registered with hmrc on money laundering certification basis. I have over 5 years experience working for accountancy practices at different levels, I believe I am safe to say that I am qualified by experience.
The simple fact of not having a regulated body's practicing license has been bothering me for sometime now.
Can someone shed some light on the abilities, rights and professional powers of accountants qualified by experience.
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QBE
As far as I am aware, there are no legal restrictions on QBE's.
The only disadvantage is that some lenders will only accept accountants references from a list of recognised qualifications. If you have the ability and experience for practice then there is nothing to stop you, and if you don't have the required ability and experience there is still nothing to stop you.
Whether qualified or not, you should maintain your knowledge through CPD, have PI Insurance, and make sure you seek out specialist help when needed (nobody knows everything about everything). These recommendations are not mandatory, but are advisable.
I cannot guide you regarding the ACCA membership & practicing licence, but I am sure some other helpful AWebber will come along to advise on this.
Your problem is ACCA
Anyone can call themselves an accountant and prepare / sign off final accounts, act as a tax agent and submit tax returns. You can pretty much do anything apart from regulated stuff, such as auditing and acting as an insolvency practitioner.
Your problem is with ACCA. You say that you are part qualified ACCA and I presume still a student member. It is a disciplinary offence for a student member or even a full member without a practising certificate to run a practice. You are allowed to do bookkeeping to trial stage on a self employed basis, but not much else. Even if you don't tell your clients about your involvement with ACCA, you still can't do much more than act as a self employed bookkeeper.
You will have to resign from ACCA if you want to continue running your practice (if it does more than bookkeeping).
Company accounts
Unaudited company accounts can be prepared by anybody and signed (as preparing accountant) by anybody - or signed (as preparing accountant) by nobody.
The only signature REQUIRED on unaudited company accounts is that of a director of the company.
Re ACCA rules look HERE.
David
Acca Rules
Clearly you are not bothered about the rules of the ACCA as you are holding yourself out in public practise whilst being a registered student of ACCA, extremely serious breach of the ACCA Rules. I hope you do not mention ACCA when you pitch for new workThanks for the advice lovutus, I am aware of that and am thinking of resigning from ACCA and completing ATT qualification in the near future.
yes
Strange but true anybody can sign company accounts and sign accountants reports but as stated not audit reports.
If you are resigning from ACCA why not look at AAT I think that AAT members are accepted by mortgage companies should the need arise.
No such thing as qualified by experience.
You are experienced but not qualified...just ask the ACCA.