Bookkeeping - what body recommended!

What bookkeeping body recommended?

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Hello everyone. 
I am a qualified accountant (member of Acca) and have been asked by couple of people I know if I can do their bookkeeping. I can't do more due to not having an ACCA PC but want to do their bookkeeping. I have been looking into IAB and registering with them as this will cover me with money laundering. 
But at a virtual ACCA event, someone advised  that IAB would be a waste of money as I can just register with HMRC for money laundering. 
 

just wanted to get other opinions? Anyone in the same boat as me? I can't use my ACCA credentials as I don't have the PC but is IAB worth the extra cost? Anyone in the same position or been In the past?

 

many thanks. Izzy. 

Replies (8)

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the sea otter
By memyself-eye
30th May 2021 19:50

quit ACCA (whatever that is) and just do bookkeeping!

It's like asking a master mechanic if he can undo a 7/16th's AF nut, please....

Zeez, what is it with accountants they need permission to WTOA's.

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Replying to memyself-eye:
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By johnhemming
05th Jun 2021 11:10

memyself-eye wrote:

quit ACCA (whatever that is) and just do bookkeeping!

It's like asking a master mechanic if he can undo a 7/16th's AF nut, please....

Zeez, what is it with accountants they need permission to WTOA's.

The difficulty is that you need AML to have an ASA. Hence registering directly with HMRC is an option.

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By SXGuy
31st May 2021 07:18

What exactly are you getting from your ACCA membership other than being restricted from earning a living?

I'm registered with hmrc for aml.

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By Paul Crowley
31st May 2021 11:43

Have you discussed your intensions with ACCA?
Have you considered being employed by your clients?

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By Sandnickel
31st May 2021 14:54

A professional body may be helpful with templates for engagement letters and MLR purposes. If you are comfortable/confident that you have this area covered then it may be more hassle than its worth.

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By Jfg
04th Jun 2021 16:18

I, and a couple of others, have had bad experiences with IAB. We have all now resigned from them and gone for AML with HMRC

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By I'msorryIhaven'taclue
04th Jun 2021 23:07

There was a thread here recently concerning an ACCA member who, if I recall correctly, was faced with having to resign his membership if he were to apply for an AAT practising Certificate. Sounds as though he was in a similar boat to you.

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By Paul Crowley
05th Jun 2021 16:40

ACCA and ICAEW expect members to do the right thing, get a practicing certificate or do not practice.
It is about protecting the brand name.
Your client will be able to find out you are ACCA and expect brand quality skills of a qualified member with a practice certificate.

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