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Setting up accountancy business after qualifying?

I have recently qualified as an accountant and I want to start working for myself but ...

.... I don’t want to breach any ACCA rules with respect to producing accounts under my name without a practice certificate.

I have an idea and would love some feedback on it.... is it possible to work for my wife’s company (who is an unqualified accountant ) and therefore start working for clients under her company name?

my theory is - I wouldn’t be trading using the ACCA title and I would not be a director of a company providing accountancy services.

Would this work or would I still be a risk of breaching ACCA rules?

My qualification is so precious to me so I do not want to risk losing it but I also wish to start earning extra money and after I receive my practice certificate I wish to start my own business.

 

Thank you in advance for your comments.

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26th Apr 2018 09:18

Qualified? As in just passed your exams, or have done your supervised period?

Reg 8 applies whether you advertise 'ACCA' or no. Working for an unqualified accountant will not count for your supervised hours.

If your letters are that precious, do it properly. Unfair as it seems, given your wife's position, but actually for good reason!

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26th Apr 2018 09:38

Thank you for your reply.

I have passed all my exams and I have also done my time - so I am now a member.

I will be obtaining my practice certificate experience via my current employment (I have checked with ACCA and I do not have to work in practice to obtain my certificate in 2 years time).

All I want to do is try to earn some extra income during the next two years.

With the above extra info - am I still at risk of breaching ACCA rules?

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to ACCAGOAT
26th Apr 2018 10:12

What does your current employer think about your plan?

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to ACCAGOAT
26th Apr 2018 10:52

Quote:

I have checked with ACCA and I do not have to work in practice to obtain my certificate in 2 years time

That's bizarre. As others have noted, working in practice is entirely different to, say, working in industry. Hardly fair on unsuspecting clients.

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26th Apr 2018 09:48

Think back to when you were 17-18. You felt like and adult right? But looking back now you realise you were still a kid with adult height right?

You are in exactly the same position now with your new qualification. You need to get some miles under you before you can act independently for clients, which is why you need at LEAST 2 years relevant experience at newly qualified level before working on your own.

Concentrate on the day job.

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26th Apr 2018 12:26

The fact you're asking here instead of asking ACCA suggests you already know the likely answer.

If I've misread the situation though then my advice would be to ask ACCA what your options are. I know that as an ICAS member I need a practising certificate, or to work for someone who has one, if I'm performing any related activities.

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