Dropping ICAEW from firm title
I'm asking this on behalf of a friend - yes really !
He is a partner in a firm of Chartered Accountants. He is not ICAEW qualified but 50% (2) of the partners are so the firm can be badged as CAs. However, one of the CA partners is leaving so they no longer meet the CA badging requirements so will drop the title. I presume this means the firm are no longer regulated by the Institute and so will need to apply to HMRC for money laundering registration. This is not a big issue.
The question is though, if they are no longer Joe Bloggs & Co Chartered Accountants but just plain vanilla Joe Bloggs & Co do they need to make any changes as regards HMRC client authorisations (64-8s), Companies House authorisations and account, letters of engagement etc ? My feeling was no as the legal structure of the firm has not changed but I just have this niggling doubt that life is never so simple. Has anyone any experience of this or know of any other pitfalls ?