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ACCA Practicing certificate

ACCA practicing certificate - advice needed

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Hi there. 
I am new to this forum so apologies if I am posting in the wrong place. 
 

I need advice regarding gaining my Acca practicing certificate and hoping you can help. I am a qualified Acca member and have been qualified for 4 years now. My last job was as a management accountant but I have now left there and working in a fairly unique role as a management accountant for a small financial company where I am the only accounts person. Currently the accounts are all outsourced to an external set of accountants but my company are hoping to bring it all in-house and as I have experience in my last job, I'm the person to do it. Everything my manager wants, I'm able to do so that's not the issue but my role is part time and I'm hoping to set up my own practice too but the issue is the Acca PC that I don't have and I don't think I can get as the external accountants assist me but I don't see them signing off / supervising me! 
 

I understand the Acca rules and guidelines and why they are in place but I'm confident about my capabilities and what I've done / can do so just wondered if anyone has any advice or been in a similar position?

 

thank you all. Take care. 

Replies (4)

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JCACE
By jcace
27th Mar 2020 01:26

Why not see if you can do some subcontract work for a local practice? The demands, especially on the tax side, of practice are quite different to those in management accounting so the experience would be invaluable and you would hopefully be able to get your PC required supervision etc. It would be worth being up front with them first, so that appropriate expectations are met and safeguards put in place.

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By Allyaz
27th Mar 2020 06:51

Thank you for your reply. I had considered joining a practice and actually applied to several small companies but the con is that I only have industry experience and practices want that practice background. It’s a catch 22 situation.

Regarding the external accountants who currently do the accounts where I work , I
Don’t know how possible it would be to ask them.

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By Richard Grant
27th Mar 2020 07:55

You are allowed to produce the final accounts for the company if you are an employee, you can't sign them off, give an opinion or audit them. You don't need a PC to do that.
Another option is to do what quite a few ACCAs do, join the IFA and get a practicing cert via them. (you will eventually have to resign your ACCA if you do this which is a big decision).

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By Allyaz
27th Mar 2020 08:12

Hi. Thanks for your reply. I notified Acca and explained about my current role and they advised what I can do in terms of being an employee.

However the second option you mentioned relating to resigning from ACCA Is a big step.

Is it possible to join CIMA and get my PC (or their equivalent) that way? Would I need to resign Acca then also?

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