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 updated statement comes into effect on 1 January 2025.  

Read ICAEW's current Statement on members engaging in public practice, Practising certificate regulations and Corporate practice regulations.

For reference, you can read ICAEW's previous Statement on engaging on public practice, which expired on 31 December 2023, here.