Accountant without a Practising Cert

Discussion in 'Askaboutbusiness' started by The Bishop, Aug 29, 2017.

  1. The Bishop

    The Bishop Frequent Poster

    Posts:
    37
    I hope this is the correct forum

    I am an Accountant but never applied for a Practicing Cert as I have never needed it!! I have helped out a few friends with sole trader and farm accounts - just a friendly thing - no payment. However, I would like to take on a few clients - I know a few Start Ups and Farmers who need someone to do their book keeping and accounts - NOT VAT Registered and Do Not Employ anyone - just very simple accounts and Tax Returns to Revenue.

    Is it OK for me to take on this work? I'm not offering "Accountancy Services" as such.
     
  2. torblednam

    torblednam Frequent Poster

    Posts:
    253
    What're the rules of your professional body?

    Oh and by the way it's pretty obvious from your username what your actual name is.
     
  3. The Bishop

    The Bishop Frequent Poster

    Posts:
    37
    Last edited: Aug 29, 2017
    Professional Body as far as I understand in order to Practice as an "Accountant" one needs a Practicing Cert but I'm not really practicing as an Accountant - more a book keeper really I'd say!!

    OK on the Username :) How can I change my Username?
     
    Last edited: Aug 29, 2017
  4. RedOnion

    RedOnion Frequent Poster

    Posts:
    433
    Preparing accounts or tax returns goes beyond the definition of bookkeeping for ACCA.
    I can't speak for the other professional bodies, but for ACCA what you described in OP falls under definition of public practice, and requires a practicing cert.
     
  5. The Bishop

    The Bishop Frequent Poster

    Posts:
    37
    Thanks - it's seems so unfair especially when anyone can do this type of work!! Thanks for your help
     
  6. delfio

    delfio Frequent Poster

    Posts:
    90
    Sure you nearly need an electrician's cert to wire a plug these days.
     
  7. Redone

    Redone Frequent Poster

    Posts:
    62
    You could resign from your professional body and then do the sideline gig. Not that I'd recommend it.
     
  8. The Bishop

    The Bishop Frequent Poster

    Posts:
    37
    @ Redone - Thanks :) I know but not sure if that's a good idea either - It would save me a lot of money though!!! but getting back in again if I needed my qualifications could be an issue and more hassle than it's worth
     
  9. RedOnion

    RedOnion Frequent Poster

    Posts:
    433
    There are options for a 'spare time' practicing cert if your income from it will be below a certain threshold.
    Just satisfy yourself in terms of requirements for professional indemnity insurance, etc also to see if it's worth it. I know you said in an earlier post that anyone can do it, but it's a bit more to sign off on it.
     
  10. Jim2007

    Jim2007 Frequent Poster

    Posts:
    1,820
    Are you seriously tell us you are a qualified accountant and you don't know the difference.... Perhaps I wrong, but I thought all reputable accounting bodies had a professional ethics exam of some sort.
     
  11. The Bishop

    The Bishop Frequent Poster

    Posts:
    37
    Last edited: Aug 30, 2017
    @Jim2007 - I mean that you don't have to be an accountant to setup and do book-keeping and simple returns to Revenue - yet a Qualified Accountant cannot do it without a practicing cert
     
    Last edited: Aug 30, 2017
  12. The Bishop

    The Bishop Frequent Poster

    Posts:
    37
    @RedOnion - Thanks for your post. Do you think if I get professional indemnity that I can work away without a practicing cert provided my income remains low - my income will be less than €5,000 - less than €1,000 even maybe :)
     
  13. RedOnion

    RedOnion Frequent Poster

    Posts:
    433
    Not exactly. Bookkeeping would be confined to routine or mechanical processes; preparing accounts to trial balance stage, process payroll, PAYE returns and sales VAT returns for example. You can do all of this without issue.

    What you referred to in original post is preparing annual accounts that might be relied upon by third parties, and computing annual tax.

    There's a pretty big difference in my view.

    As a member of a professional body, anywhere that you hold yourself out to be an accountant, you fall under the rules of your professional body, do you will need to check their rules.

    By the way, I've never known a farmer who didn't need good tax advice. Your work there should go far beyond the definition of bookkeeping if you're providing the service they need.
     
  14. RedOnion

    RedOnion Frequent Poster

    Posts:
    433
    By the way, there's nothing illegal about going ahead anyhow. There is no legal protection of the term 'accountant' in Ireland. I'm just saying what you should do, according to the rules of your professional body. Any repercussions will be limited to your professional body's disciplinary rules, or being sued by a client.
     
  15. cremeegg

    cremeegg Frequent Poster

    Posts:
    1,900

    As far as I know getting back in is a straightforward matter of paying the fees.
     
  16. browtal

    browtal Frequent Poster

    Posts:
    497
    there is no law that I know of to prevent you from doing accountancy work. Surely anyone can do their own returns, if they are happy with that.
    However it would be incorrect to call yourself an accountant or to mislead somebody that you have more qualifications than you do.

    Many small companies or individuals would welcome somebody to do their accounts for them. There is nothing against you making a charge. The charge should be agreeable by your and your clients.
    Many people work as accountants without membership of accounting bodies.
    Good luck
    Browtal
     
    The Bishop likes this.