If you're an interim finance director or work as a sole practitioner providing FD services, take a look at these scenarios to see how the changes to the Statement on members engaging in public practise may affect you.
Scenario 1: Sole practitioner
Question
I am a sole practitioner providing an outsourced finance director (FD) role for a number of companies. Do I need a PC?
Answer
Where you have multiple clients that you provide accountancy services for, such as providing tax advice and/or compliance work, financial statement preparation and/or management accounting, or other accountancy services outlined in Annex 1 to the Statement, it is likely that you will need a PC, as you will be a principal in public practice.
Scenario 2: Interim finance director
Question
I am a member providing full-time interim finance director (FD) services to an entity under a temporary contract. Do I need a PC?
Answer
It depends:
- If you are providing the service as an employee (even if only on a temporary contract or via an agency) you do not need a PC unless the entity is an accountancy firm, and you will be a principal or held out as one.
- If you are self-employed (acting as a subcontractor) you do not need a PC provided that you are not held out as a principal and the entity supervises and controls your work and accepts responsibility for it.
Need help deciding?
Contact the Ethics Advisory Team
Practising certificates
Find out if you need a practising certificate and how to apply for one.
