I wanted to put this question out to see what thoughts are. I have read many posts around similar situations and have realised they can get rather heated and I certainly am not here to do that.... so here goes
I am a registered ACCA member and have worked in practice for over 10 years. I have been in senior roles including audit manager and progressing to practice manager, so have plenty of experience. I have taken and passed all of the exams barring 1. I failed the last time I sat it by 1% which has put a huge hole in my plans.
I recently found my self in a situation where I have inherited a very small practice. Long story and not part of my plan it just happened this way. I am aware that ACCA have strict rules about practicing without a practicing licence and never intended to get one of those. I was hoping to pass the exam that I sat in Dec have my qualification signed off and resign from being a member before I began "practicing". I have an AAT practicing certificate and that will suffice for what I need it to.
However as detailed above I needed one more mark and so now I have to re sit the exam. I will need to start "practicing" before I re take this final exam as the clients that I have inherited will need to be taken care of. There isnt an option for me to delay this or remove myself from the practice.
I was going to ask my husband, who is a CIMA qualified accountant, to sit as director on my company to allow me to resign whilst I take the final exam, That in itself has implacations as he would need to satify CIMA regulations, and through scouring other posts on here, i found a thread where someone was in a similar situation and the husband wife question came up. The answer was that if the wife was the person doing the work even though the husband held the shares and directorship, as an ACCA member she would need to resign her membership or obtain a practicing certificate.
Do I need to face the fact that I will need to resign from ACCA without completing the whole qualification in order to allow me to take care of my newly aquired practice ? it will be a huge kick in the teeth after all the work I put in and after failing by only 1 mark, but I certainly do not want to break the rules and have a mark against my name.
I would be most grateful of your thoughts and if anyone has been in a similar situation and how you dealt with it.