Resigning from CAI

Newbusiness2025

Hi,

I am a qualified Chartered Accountant (ACA). I did my exams/ diary while working in banking, and changed jobs immediately after qualifying. I have not worked under a chartered accountant since the training period, and as such, I do not think I am eligible for a practicing certificate (PC).

I am keen to set up my own business advisory/ consultancy firm, but part of the offering I want to include would be non-audit related accountancy services (ie bookkeeping, prepare accounts for SMEs etc) - but I believe I cannot do this as a CAI member without a PC.

I am thinking of resigning from CAI, as then I believe I would be able to offer these accountancy services as part of my wider service offering. However, I am concerned should I ever wish to rejoin CAI (granted I have never actually used my qualification in the sense that I needed to be an ACA, as I have only worked in the banking/ investments space).

If anyone could provide guidance on my below queries, it would be greatly appreciated:

• Am I correct in thinking that if I resign as a member from CAI, I can provide non-audit accountancy services to SMEs?
• If I did want to rejoin CAI in the future (say if I changed roles etc), would I essentially be blacklisted as I clearly would have left in order to provide unregulated accountancy services?
• Would PI or other expenses be higher without the CAI tag?

And just for more context, I have never been a pure "accountant" before, and it wouldn't be an area I would be keen in working in really, but I think it is a service I will need to provide in order to attract the clients I am after (largely in the agri space).

Thanks

Alan_007_

https://www.charteredaccountants.ie/Members/members-hub/member-subscriptions/resignation/readmission

This is worth a look if you haven't already seen it.

Also, as you have no prior experience in accounts prep (or tax I presume?), it may not be the best idea to go out on your own providing these services to paying clients, especially in the agri sector which is a bit specialist.

Jim2007

So in summary you have no experience in providing accounting services nor it would seem in running a business, no clients, no experience in landing clients and you are proposing to give up the only edge you might have…. And you want to try and target the farming community a sector you also don't seem to have any experience of…

It does not exactly sound like a plan…

I have worked in the agri sector in Ireland in a past life with clients all over Ireland, north and south and it's not exactly an easy sector to break into if you don't have something to recommend you (our edge was that we employed several former senior members of the IFA who could land the clients). You can rule out all the corporate agri sector as you don't have the skills or the right to provide the kind of services they'd need so you are basically down to providing basic bookkeeping services to farmers. Your competitors will be small established accounting practices offering full services and the big collection of part-timers who do these services on the side many with a farming background and an established reputation within the farming community.

Have you do a business plan, figured out how many clients you need to break even, how you are going to get people to switch away from their current service providers and so on? Considered your potential risk exposure etc?

I don't think giving up your CAI qualification should be your starting point…

homer911

As someone who gave up my CAI membership, I can say that there is nothing to stop someone calling themselves an Accountant and setting up in business. You just cant call yourself a Chartered Accountant. BTW, CAI will look for your membership cert to be returned! (Unfortunately (!) mine had got lost..)

Like you, I never worked as an Accountant and I gave mine up during a period of self-employment and after the gov had changed the rules about tax deductibility for those working in non-finance roles

Giving up membership may be a disincentive for potential clients however so do think wisely

J.Ryan

For AML purposes currently CAI would regulate you, as a non member you would have to get your AML systems approved by the DOJ, I remember Des O'Neill talking about how hard it was to get Omnipro approved back in the day and there are massive fines for non compliance.

My advice, don't even think about it