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Can ACA without a practicing cert produce Certified accounts?

  • 21-09-2010 2:48pm
    #1
    kjb83
    Closed Accounts Posts: 22 ✭


    Hi,

    I am an ACA, I have been approached to do a bit of bookkeeping as an nixer. It will involve preparing accounts for a sole trader and submitting tax return.

    I don't see any problem with this however the client also requires a set of certified accounts in order for a family member to apply for an education grant from the local authority, this application requires certified accounts.

    Can I provide the client with this? I am only a chartered accountant without a practicing cert.


Comments

  • #2
    dbran
    Registered Users, Registered Users 2 Posts: 2,094 ✭✭✭dbran


    Hi KJB83

    I believe a similar question was dealt with in this thread here

    http://www.boards.ie/vbulletin/showthread.php?t=2056012710&page=2

    I would suspect the ACA rules are similar to the ACCA rules in that you are allowed to carry out basic bookkeeping, payroll VAT returns without a cert.

    But you cannot hold yourself out to be in public practice without having a practicing certificate. Public practice is defined as preparing any report that could be produced and used by a third party such as revenue, banks etc. So basically you cant produce any kind of accounts (certified or not) or tax returns without a cert.

    Kind Regards


    Dbram


  • #3
    smcgiff
    Closed Accounts Posts: 5,943 ✭✭✭smcgiff


    If the CAI knew you were preparing accounts without a practicing cert they would severely reprimand you. You probably wouldn't be kicked out on first offence though.

    As you would be preparing the accounts without the approval of the CAI it's hard to say how the accounts would be "certified".


  • #4
    kjb83
    Closed Accounts Posts: 22 ✭kjb83


    Hi thanks for that, ya I thought that would the case. Just to clarify I have never prepared accounts or filed tax return for a private client.

    Lets say for example no report was provided and accounts only contained clients signature certifying all figures are correct. ie I would merely be acting as book keeper would that be sufficient for local authority and would I be breaching any institute roles?

    I know many sole traders prepare their own accounts with no accountants report.


  • #5
    smcgiff
    Closed Accounts Posts: 5,943 ✭✭✭smcgiff


    kjb83 wrote: »
    Hi thanks for that, ya I thought that would the case. Just to clarify I have never prepared accounts or filed tax return for a private client.

    Lets say for example no report was provided and accounts only contained clients signature certifying all figures are correct. ie I would merely be acting as book keeper would that be sufficient for local authority and would I be breaching any institute roles?

    I know many sole traders prepare their own accounts with no accountants report.

    Don't think this would get you off the hook - Basically unless you're a PAYE employee of this person, and they then get the accounts verified by a Practicing accountant could your work be used for this purpose.


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