Practicing without a Practicing Certificate

Practicing without a Practicing Certificate

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Anybody have any experiance of NON chartered accounting institute's response to working without a Practicing Certificate.

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By cheekychappy
07th Oct 2015 21:19

If you are a member of any institute, you must comply with their rules.

If you wish to operate in the Wild West, you have to operate without an affiliation to any club.

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By User deleted
07th Oct 2015 22:09

What is a "NON chartered accounting institute[s]"?

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By GR
08th Oct 2015 06:40

I believe.............

 

AAT, ATT, CTA, IFA = You need a PC

 

ICPA = You don't need a PC, this is more of a trade association

 

 

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Replying to Paul Crowley:
By jon_griffey
08th Oct 2015 07:54

ICPA

GR wrote:

I believe.............

 

AAT, ATT, CTA, IFA = You need a PC

 

ICPA = You don't need a PC, this is more of a trade association

 

ICPA is not a trade association.  It is a profit making trading company.

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Replying to Paul Crowley:
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By Cloudcounter
08th Oct 2015 22:19

Troughs

jon_griffey wrote:

ICPA is not a trade association.  It is a profit making trading company.

 

I somehow doubt that the owners of ICPA have as much in their troughs as the people who run the chartered institutes, or that their noses are quite as brown

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Replying to Paul Crowley:
Time for change
By Time for change
09th Oct 2015 08:17

I think you'd find that

jon_griffey wrote:

GR wrote:

I believe.............

 

AAT, ATT, CTA, IFA = You need a PC

 

ICPA = You don't need a PC, this is more of a trade association

 

ICPA is not a trade association.  It is a profit making trading company.

many members on here and, Tony Margartelli in particular, would hold a different view. This organisation constantly seeks to improve benefits which it provides to its members. Tony has built up, over many years, various associations with well respected and high profile professionals and, in making such a (seemingly) belittling statement, you also do a dis-service to the countless members who genuinely appreciate what ICPA actually does.

I find that evidence based criticism is usually the best policy.

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Replying to Emma Braunton:
By jon_griffey
09th Oct 2015 10:21

Check Companies House

Time for change wrote:

jon_griffey wrote:

GR wrote:

I believe.............

 

AAT, ATT, CTA, IFA = You need a PC

 

ICPA = You don't need a PC, this is more of a trade association

 

ICPA is not a trade association.  It is a profit making trading company.

many members on here and, Tony Margartelli in particular, would hold a different view. This organisation constantly seeks to improve benefits which it provides to its members. Tony has built up, over many years, various associations with well respected and high profile professionals and, in making such a (seemingly) belittling statement, you also do a dis-service to the countless members who genuinely appreciate what ICPA actually does.

I find that evidence based criticism is usually the best policy.

I am not belittling ICPA at all. I completely agree that it provides valuable benefits to its members, or more accurately customers and do not question that it probably does this much more effectively that the professional bodies.

All I am saying is that the 'evidence' suggests that is not a trade association or a professional body. You will see at Companies House that ICPA Ltd is not a registered charity, nor a company limited by guarantee, nor a membership organisation. It is limited by share capital which is held by a handful of private shareholders.  If you are not listed on the annual return you ain't a member - you're a customer.

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By Ben Lauritson
08th Oct 2015 10:32

AAT

I'm a bit rusty on the details as it's been a while since I last had to look into it, but AAT don't strictly mandate that you have a practising certificate, so long as you do not associate yourself with them in any way. Certainly student members are permitted to practice on their own, albeit without support from AAT.

There is of course their Member in Practice scheme where they do issue a Practice Certificate and offer support etc. but it's worth checking their website for the nitty gritty of all this. As I say, it's been a while since I last looked :)

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By MDK45
08th Oct 2015 18:01

How can members of aat be allowed to practice? When i passed their exams in 1993 they were just a gentle introduction really into further accountancy etc and it was exams on bookeeping and letter writing etc. Have they beefed up their offerings in the intermediate years?

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Replying to Duggimon:
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By cparker87
08th Oct 2015 19:51

Well...

MDK45 wrote:
How can members of aat be allowed to practice? When i passed their exams in 1993 they were just a gentle introduction really into further accountancy etc and it was exams on bookeeping and letter writing etc. Have they beefed up their offerings in the intermediate years?

They can practice because there's no legal restriction on anyone practising as an accountant. 

 

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Scalloway Castle
By scalloway
08th Oct 2015 19:47

AAT MIP

If you are a qualified AAT you can register under their Member in Practice (MIP) scheme. I don't know how long it has been going but I was a MIP for a number of years from the 1990's.

 

https://www.aat.org.uk/membership/becoming-a-member-in-practice

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By cheekychappy
08th Oct 2015 20:46

AAT is probably the most respected non-chartered accountancy body.

It's not chartered level, but it certainly isn't a bookkeeping qualification.

A Google search shows the following units: -

Level 2 units
There are five mandatory units:

Processing Bookkeeping Transactions (PBKT)
Control Accounts, Journals and the Banking System (CJBS)
Working Effectively in Accounting and Finance (WKAF)
Basic Costing (BCST)
Computerised Accounting (CPAG)

There are six mandatory units:

Accounts Preparation (ACPR)
Prepare Final Accounts for Sole Traders and Partnerships (FSTP)
Cost & Revenues (CSTR)
Indirect Tax (ITAX)
Professional Ethics (PETH)
Spreadsheet Software (SDST)

Level 4 units
There are four mandatory units:

Financial Statements (FNST)
Budgeting (BDGT)
Financial Performance (FNPF)
Internal Control and Accounting Systems (ISYS)

Choose two from the following five optional units:

Cash Management (CSHM)
Credit Control (CRDC)
Personal Tax (PTAX)
Business Tax (BTAX)
External Auditing (EXTA)

We still don't know what body the OP belongs to. So any mention of AAT or any other body is redundant at this stage.

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By cheekychappy
08th Oct 2015 21:00

IFA ... Say no more.

It appears that the OP is a member of the IFA. 

 

IFA members must obtain a PC if they offer services to the public. 

http://www.ifa.org.uk/members/new-members/obtaining-an-ifa-practising-ce...

 

Failure to obtain one and you will face a disciplinary. 

http://www.ifa.org.uk/members/new-members/regulations/

 

 

 

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By Tosie
08th Oct 2015 22:02

AAT

Nothing to help OP but in reply to MDK45, A chartered accountant friend of mine did some lecturing on an AAT course and was surprised as how intensive the course was and the standard of the exams. Also I think I am correct in saying that the chartered bodies give some exemptions for AAT qualified people.

Must have changed since 1993.

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By Ruddles
09th Oct 2015 10:38

I don't know a single person that is a member of a professional body that practices with a practicing certificate. Most of those that I know practise with a practising certificate.

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Replying to anthonyconstantinou:
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By cparker87
09th Oct 2015 10:43

Knew that was coming :)

Ruddles wrote:

I don't know a single person that is a member of a professional body that practices with a practicing certificate. Most of those that I know practise with a practising certificate.

Always gets me. Occasion (ocassion) is the other. 

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Replying to anthonyconstantinou:
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By MDK45
09th Oct 2015 20:28

It took a while... It's been a long day.

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