hi all,
I have seen similar posts, but keen to ask this question again given i have a few nuances.
Looking for some advice, as to how i translate my background into becoming a freelance accountant.
to add, my wife started her own business, and i have helped her setup finance processes and controls, and i have also helped a charity reviewing their processes, and its got me keenly interested in offering this type of advisory work
my background:
Current - Advisor on Finance reporting processes (from an internal reporting and governance point of view) in a large bank - 1 year
Previous roles
- Group Finance, project manager, working on remediating processes (banking) - 2.5 years
- Management accountant (banking derivatives) - 3 years
- External audit (big 4) - 4 years
I think the safe route is to join a small practice firm for one year plus, and learn the ropes? but maybe offer myself on freelance sites now, and start trialling?
however, i have also thought i can lowball on the freelance sites, explaining why and build from there. i think i may need another years experience to gain a practising certificate though, if i need that (ICAEW)
any comments appreciated
thanks
Mark
Replies (7)
Please login or register to join the discussion.
If you are registered with ICAEW you will need a practising certificate.The requirements to obtain one will dictate how you proceed with your future career
Good luck
Similar questions get asked almost weekly.
Have a read of this:
https://www.accountingweb.co.uk/any-answers/set-up-of-ltd-company-questions
I'm not clear whether your plan is to offer a full range of finance and tax services to a variety of clients or to act as a contractor providing services similar to your stated experience. Obviously, if it's the former, you have some way to go to build up the required knowledge and expertise. The latter possibly makes more sense but that probably depends where in the country you are.
If you ae in the ICAEW.... call em and get them to help
you need a practicing certificate and PII at least or you will be up before disciplinary team
The key to small business accounting is to be good at tax.
When I started I went to the ACCA final exam lectures on tax - as it was cost effective it was every week for 6 months it refreshed my memory and was relevant... and I didn't have to do the homework :)
Then its just a matter of finding clients... a website and a lot of wandering around being sales and marketing...
Or buy out someone retiring
You don't have to have worked in practice to set up your own practice, as I had no practice experience either (and came from an audit/banking background).
I did seek advice and built working relationships from those who had, however.
As others have advised you will most certainly need a PI certificate from ICAEW.
Happy to provide some advice if you PM me.