Nuala McGowan, founder of McGowan Accountancy Services is a qualified Chartered Accountant, tax adviser and certified trainer.
Members of Chartered Accountants Ireland need to hold a Practising Certificate (PC) and comply with the Public Practice Regulations & Guidance.
A member engages in public practice when he or she personally and directly provides or holds himself or herself out to provide either personally or through a firm accounting and related services to persons other than his or her employer.
It is important that members apply for and are granted a Practising Certificate before they engage in public practice.
Practising Certificates are renewable annually from 1 January in each calendar year.
This is generally done as a principal in an accountancy firm but there are other circumstances, for example, when acting as an employee audit responsible individual or insolvency licence holder when a PC is required.
All members who hold a PC are required to:
- Have Professional Indemnity Insurance (PII)
- To demonstrate compliance with the CPD requirements
- Be monitored by the Quality Assurance Team