Practising Certificates are valid for the calendar year or the balance of the calendar year for which they are issued and must be applied for annually after the initial grant. Members must comply with the Public Practice Regulations:
Public Practice Regulations
Practice
Practice is the provision of services including accounting and related services for which the relevant skills have been acquired by a member by reason of his or her training and qualification, to persons other than his or her employer.
A member engages in practice when he or she provides or holds him or herself out to provide such services to the public either personally or through a firm.
Examples of some of the more common reasons for requiring a Practising Certificate include:
- becoming a principal in an accountancy firm;
- independently offering accountancy or related services to the public;
- being an insolvency permit licence holder; or
- an employee responsible individual under the Audit Regulations.
Where there is any doubt regarding whether you would be considered to be in practice, please contact ICAS.
The Practising Certificate does not of itself convey the right to practice in the reserved areas of insolvency or audit.
Practising without a Practising Certificate may result in disciplinary action. See investigatory/disciplinary information.
How do I apply?
The Practising Certificate application form, information on professional indemnity insurance and general Guidance can be downloaded below or obtained from the Institute. Additional guides for members, who are already in practice or wish to consider whether to go into practice, can be found in the Practice Guidance section found here.
Consumer Credit Group Licence
ICAS holds a Group Licence, which is issued by the Office of Fair Trading. This permits Practising Certificate holders, firms entitled to use the description “Chartered Accountants” and firms with audit registration and/or a Designated Professional Body licence to undertake a restricted number of activities, the most common of which is to allow clients to pay fees by installment. A copy of the current Consumer Credit Group Licence can be viewed here.
Contact us
Any enquiries regarding Practising Certificatess or Professional Indemnity Insurance should be addressed to rrichardson@icas.org.uk or 0131 347 0286.