Do I need a practising certificate?

Who needs a PC?

You need an ICAEW PC when you engage in public practice.

What is public practice? 

Typically members engage in public practice when they become a principal in an accountancy firm or when they independently offer accountancy services to the public.

However, it is important to note that there are other situations where a PC is required, for example as an ICAEW insolvency licence holder, and as an employee responsible individual under the audit regulations.

You'll require a PC irrespective of whether you hold a PC with another body, with some exceptions.

If you are setting up a new accountancy practice, you will need to notify ICAEW about the name of your firm.

What if we don't use the description 'chartered accountants'?

If you're a principal and you engage in public practice, you need a practising certificate whatever you call yourself and your firm.

You need a practising certificate whether or not:

1. You use the ICAEW logo;
2. You have a PC from another professional body such as the ACCA or CIOT; or
3. You undertake work in any of the regulated areas.

If you're a member of ICAEW and engage in public practice, you need an ICAEW practising certificate. 

Remember, failure to hold a PC when you would be considered to be engaging in public practice could result in disciplinary action against you.

Current PC requirements

The Statement on members engaging in public practice has been revised and the you can read the current statement, effective 1 January 2025, here.  

Read the accompanying Practising certificate regulations and Corporate practice regulations.

For reference, you can see old versions of the statement and supporting regulations here.