Icaew member firm

Shareholding changes

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hi all

i am an icaew with 85% shareholding in my company. We are a member firm.

an opportunity has arisen but would mean my shareholding will reduce to 45%. The other shareholder/director is not an icaew member so we will fall out of scope of being a member firm.

has anyone else ceased to be a member firm? What issues did you have?

would the practice still be subject to QAD visits as I am a principal and will retain my membership personally? Is it possible to register with the ICAEW for aml supervision. 

Would it be possible for me to still sign clients mortgage certificates under my name as an icaew member?

ideally I would like everything to stay the same concerning the above but I would just like to get an idea of the full range of issues it might bring.

many thanks 

Replies (3)

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By ireallyshouldknowthisbut
03rd Oct 2018 09:01

Why not speak to the ICAEW?

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Stepurhan
By stepurhan
03rd Oct 2018 11:28

What is the opportunity and why does it involve diluting your ownership?

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By Matrix
03rd Oct 2018 12:07

You would no longer be able to call the firm an ICAEW member firm. You will have to ask if you can still be covered for AML.

I would not sign mortgage certificates yourself given you have no practicing certificate or PI cover and it is the firm who has prepared the return.

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