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High Flyers

Reporting accountants for ATOL holders can benefit from the latest ICAEW guidance on the new CAA reporting requirements, outlined by Louise Sharp.

The Civil Aviation Authority (CAA) has recently changed its reporting requirements for ATOL holders and their reporting accountants (who are now known as ATOL Reporting Accountants).

ICAEW has revised its guidance in TECH 07/12AAF to take account of these changes and the revised reports provided by ATOL Reporting Accountants (ARAs) and issued a new technical release, TECH 09/16AAF, Revised Arrangements for ATOL Reporting Accountants Reporting to the Civil Aviation Authority.

The main changes are summarised below. However, ATOL Reporting Accountants should also refer to the revised CAA Guidance Note 10. This includes details of the licensing process, reporting requirements for ATOL holders and their ARAs, including the tripartite engagement terms and the purpose for which ATOL holders’ reports are used by the CAA and the Air Travel Trust (ATT).

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