It is often said "Only chartered accountants can do audits" (If experienced of course) Now of late, I'm starting to see more and more of what you can't do, if you're not qualified. FWIW, I'm including AAT into the mix - IFAC after all ;). I know there are some mortgage companies would like past SA's - yet I digress - They usually ask for either a CCAB or IFAC member to sign to confirm details. Lately, two notable requests for a qualified accountant to sign are (AAT is included) border force documents and rural payments. Do you know of any other instances where an accountant, of at least IFAC level are required (just out of interest)
Thanks
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Johnny - Owner of an overly-active keyboard.
A man who can read, yet doesn't, is in no way wiser than a man who can't.
Audit is a big subject and whilst some parts are protected in statute others are not. For example, a compilation engagement is a form of audit but its what we all do to turn a clients set of books into a set of accounts.
It would be more appropriate to say that people who are not qualified auditors with a recognised supervisory body may not perform statutory audit work.
Insolvency work is also a protected part of the profession.
Non statutory restrictions are as you identify matters such as those impsed by finance providers who determine based on qualification whether they judge someone's opinion valid. From one provider to another the list will vary although some such as ACA and ACCA will appeear on every list.
In a similar manner and thinking back to a discussion that you were involved with a few weeks back, professional witnesses who are not on the top table may find it difficult to find work.
The IFAC restriction is perhaps a bit of a curve ball in that IFA is recognised by IFAC but is on occassion missing from lists of acceptable professionals where AIA is not IFAC but can quite often be found in lists where IFA is missing.
Another key list of levels of acceptability is who is permitted to validate experience in order for us to get to a practice certificate. The general rule there is same level or higher although that then gets into the usual arguements amongst the professional bodies as to where they see their competitors in the overall pecking order.
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
Hey. At one stage I had the intention of moving across to, and upwards with, the IFA. With IFA members being accountants and AAT members being technicians - by virtue of the member body. What is interesting, to me at least, is that the AAT pushes themselves to be recognised, they are members of IFAC, and they sure make the government aware of that. I agree that audit is huge! It was more a case of it is usually said "chartered can do x y z " yet it is often forgotten that in some cases, to do 'certain' compliance work, one needs to be a member of a body. The IFAC reference was also used as a minimum level, sort of reference. The AIA is interesting, I didn't know that! I'd also say that although CIMA aren't CCAB anymore (Due to fees charged to them, in a predominantly audit rich club) they are top drawer (I'm not saying you didn't say they were :) )
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Johnny - Owner of an overly-active keyboard.
A man who can read, yet doesn't, is in no way wiser than a man who can't.
