Hi everyone, I am looking for some practical advice from people with experience of leaving the ACCA or getting rid of their practicing certificate please.
I am an ACCA, qualified over twelve years ago, and have had a practising certificiate (PC) for the last four. 18 months ago I set up on my own and had to find a Continiuty of Practice (COP) with the ACCA. The person who was my COP is getting rid of his PC so can no longer be my COP, and other people I know and have asked to step in are saying the same thing - they are ditching their PC becuase the costs and compliance are too much and of no benefit to their business.
ACCA are not being much help when I ask for help finding another COP and are banging their drum saying I'm in default of the regulations without actually offering me any practical support. Right now I can't really see what I get for the £200 odd pound subscription and £400 odd PC cost. When I have asked ACCA my questions below they are being a bit vague so I am throwing it out here:
Can I continue in practice as just an ACCA without a PC as long as I don't claim to have one? Can I still advertise myself as an ACCA as long as Im not certifying accounts? I'm loathe to lose my ACCA after so much time and effort to get it, but it seems pointless to keep it if I also have to have a PC which I'm struggling to get without a COP.
So I guess my main concerns or questions would be:
Is it easy enough to get PI insurance without a certificate or governing body?
I assume I will just have to register with HMRC for money laundering purposes to continue as an authorised agent with them?
Has not being an ACCA or having a PC affected your business?
Any advice or things I have not thought of from people who have been through it would be greatly appreciated.