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ACCA partner in ICAEW practice?

ACCA partner in ICAEW practice?

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I am a recently qualified ACCA. I have worked for the same firm of Chartered Accountants for 9 years and am hoping to eventually get a partnership within this firm.
However I need to know if my becoming a partner would effect the status of the practice before I can discuss the future with my bosses.
Any help would be appreciated.
Nigel Harper

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25th Feb 2002 17:00

simple majority
Provided the majority are chartered then the words "chartered accountants" can be used in the name. You may need to become an associate member of the ICA (at a price) first.
Notice that a lot of big firms don't bother to keep the words "chartered accountants" any more.

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26th Feb 2002 10:13

ACCA becoming member of ICA?
In the light of Phil's comment below, is it possible for an ACCA to become an associate member of the ICAEW? What would be the requirements?

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26th Feb 2002 10:25

Of course you can!

Paul,

Anyone can become a member of another professional body. The only requirement is that you should pass their exams and pay their annual subscriptions, which are inflation proof!

Hope this helps.


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17th Jan 2007 04:52

Paul
No problem now for ACCA to join ACA.

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17th Jan 2007 07:59

Affiliate
Nigel

I think Phil may have intended to refer to an affiliate rather than an associate.

It is no longer necessary that every partner in a firm of chartered accountants holds an accountancy qualification. Non-members of ICAEW who are partners in ICAEW firms are required to undertake to comply with the bye-laws and ethics of ICAEW and pay a subscription. There is no requirement to take any examinations.

There may be limits as to whether partners without qualifications can sign audit reports etc.

In your case you already are an ACCA - which is a bonus!

David

P.S. The situation now is probably rather easier than when this question was first posted 5 years ago!

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17th Jan 2007 09:03

How about an update
Wouldn't it be great to know if Nigel ever became partner or maybe he escaped and only logs in here for old times sake!?

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18th Jan 2007 03:15

I wonder .......
....how many members of AIA has partnered ACAs or ACCAs and how many AIA members are there in the UK practising?

I asked because the AIA is a much commented about Recognised Qualifying Body in the UK since 11 July 1994 and some auditing textbooks or accountancy manuals do not include the AIA qualification into the RQB list when it got recognised.

If a qualification is seen as not popular or common, the asking price for being a partner in a CA firm would have been "lower" if you hold an AIA then, am I right?

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