Non Audit Practising Cert.

s.j.h27

I am currently studying for my ACCA exams and I am working in Industry. What is the quickest route to obtaining my non-audit practising cert. and is it possible to obtain this cert. while working in Industry??

Da GOAT

If you want to have your own practice one day you need to do years post qualification in the practice industry.

MrMatisse

If you want to get a practicing cert you have to do some post qualification work in a practice that is approved by the ACCA as a 'practice stream' practice. I think the type of work you are doing during your training may have an impact on how long you have to work in such a practice. For someone working in fund accounting it would probably be very long for example.

whatawaster

Does this not only apply if you want to be a registered auditor? I mean, the term "accountant" is not legally protected, so can't anyone set up an accounting "practice?"

MartMax

Anyone qualified accountant who wants to practise in assurance area must have audit practising certificate. That includes being auditor and reporting accountants for regulated professional clients for e.g. solicitors.

Other non-assurance services would be covered by general practising certificate. I think at the moment, ACCA general and audit practising certificates for UK/Irish region are different to the ones issued for other part of the world.

To OP, you first must complete your exams and become a member.

There is a guideline on whether one should need a practising certificate or otherwise - http://www.accaglobal.com/documents/PC_factsheet.pdf

While the term "accountant" is not legally protected, I believe all qualified accounts are regulated by their professional bodies when it comes to presenting themselves or their firm as "practice" or watever it is.

smcgiff

OP,

1. Get qualified.
2. Get 2 years post qualified experience with an approved employer. This does NOT need to be in practice but can be in industry. If the industry/practice you get your post qualification experience with is not approved you could ask them to get approved by ACCA and then your time would qualify.

Good luck.

s.j.h27

Thank you for your replies.......I was reading the CPA website and it says you can get your post qualification experience in Industry but does not mention anything about an approved employer. I know ACCA have a list of approved employers but is there such a list of CPA employers or is it based on the actual experience you receive rather than the employer i.e. can I stay with my present employer and get the experience required to obtain my practising cert.?

smcgiff

s.j.h27 wrote: »

Thank you for your replies.......I was reading the CPA website and it says you can get your post qualification experience in Industry but does not mention anything about an approved employer. I know ACCA have a list of approved employers but is there such a list of CPA employers or is it based on the actual experience you receive rather than the employer i.e. can I stay with my present employer and get the experience required to obtain my practising cert.?

With CPA you just need two years post qual experience - no approved employer required. You'll also (as with ACCA) need to pass a practice cert exam - this isn't as hard as you'd think because you attend a workshop that pretty much covers the exam.

But don't forget you can get your employer ACCA approved and you can stay with ACCA.

dbran

Hi

I believe the practice cert exam is now gone as it was viewed as a barrier to entry.

Considering how easy it was it wasn't much of a barrier at all but it did cost nearly a grand to do so i suppose thats good news.

dbran

smcgiff

dbran wrote: »

Hi

I believe the practice cert exam is now gone as it was viewed as a barrier to entry.

Considering how easy it was it wasn't much of a barrier at all but it did cost nearly a grand to do so i suppose thats good news.

dbran

Including ACCA and since when is there a problem with exams being a barrier to entry?

*edit* yip ACCA got rid of it!

MrMatisse

There is an awful lot of rubbish being posted here.

You cannot get a practicing certificate from working in industry alone.

To obtain an ACCA practising certificate, members must complete three years’ relevant experience with an ACCA Approved Employer – practicing certificate development stream (AE-PCD). Two years of this training must be obtained after admission to membership and recorded in a Practising Certificate Training Record (PCTR) and verified by an appropriately qualified individual.

And they definitly have not got rid of this requirement

Also anyone who attended the recent ACCA event in the Davenport Hotel in relation to this was told you have to work in an approved practice for the two years.

When you qaulify you can undertake bookeeping work and take accounts to trial balance stage but nothing more. You cant prepare financial statements for clients without a cert.

dbran

Really-Stressed wrote: »

There is an awful lot of rubbish being posted here.

You cannot get a practicing certificate from working in industry alone.

To obtain an ACCA practising certificate, members must complete three years’ relevant experience with an ACCA Approved Employer – practicing certificate development stream (AE-PCD). Two years of this training must be obtained after admission to membership and recorded in a Practising Certificate Training Record (PCTR) and verified by an appropriately qualified individual.

And they definitly have not got rid of this requirement

Also anyone who attended the recent ACCA event in the Davenport Hotel in relation to this was told you have to work in an approved practice for the two years.

When you qaulify you can undertake bookeeping work and take accounts to trial balance stage but nothing more. You cant prepare financial statements for clients without a cert.

True

But.....if you are not qualified at all.....you can do anything you like.

Because there is no body that you are a member of, you can't be kicked out!!!!