AIA works in the public interest, ensuring that our members are appropriately regulated for the work that they carry out.
All our members in practice have access to the right information, support, and guidance, to ensure they operate a successful practice and adhere to all the necessary regulations.
The requirements for AIA Members in Public Practice are set out in AIA’s Public Practice Regulations within the AIA Constitution.
This page provides access to additional guidance to ensure AIA Members in Practice can meet their requirements efficiently.
AIA practising certificates are issued for a period of up to one year and are renewable on 1 October.
The renewal form, along with the relevant documents, must be completed annually to re-affirm eligibility.
Access guidance on how to complete your annual AIA Practising Certificate renewal.
You must notify us of any changes to the structure of your firm within a reasonable timescale set out in the regulations.
Professional Indemnity Insurance (PII) provides cover for practitioners against claims for professional negligence or loss through fraud or dishonesty. Having appropriate PII is mandatory.
You must be able to demonstrate that you have appropriate indemnity cover for claims against you arising out of your professional work, this cover must be in force for the period for which the certificate is intended to be valid and include two years retroactive cover on a similar basis following cessation.
It is your responsibility to obtain adequate cover with a reputable insurance Levels of Cover.
Access guidance on PII requirements for Members in Practice.
If you are undertaking accountancy work in the United Kingdom you are required to meet the requirements under the MLR2017 and guidance.
As an AML supervisor AIA requires you to provide evidence of how you meet the regulations.
The MLR 2017 requires practices to appoint a relevant person as the Money Laundering Reporting Officer (MLRO).
Sole practitioners who have no relevant employees automatically become the Practice MLRO, responsible for the business’ compliance with the UK anti-money laundering regulations.
The MLRO must be properly equipped with sufficient knowledge and resources to undertake the role and must undertake initial training and Continuing Professional Development (CPD) to ensure continuing compliance.
AIA requires that you complete annual AML training to maintain your recognition.
Access guidance on AML requirements for Members in Practice.
For the period that your practising certificate is in force, you must ensure that you have in place a written continuity agreement with another accountant or firm of accountants to act as a ‘nominee.’
The agreement provides for the nominee to be responsible for your practice in the event of death or indisposition. It is mandatory that a written continuity agreement be made, and this may be inspected by the AIA as part of the monitoring process. You must inform AIA if you make changes to your continuity.
Access Continuity Agreement Guidance for Members in Practice.
A Member in Practice must not assume custody of client monies or other assets unless permitted to do so by law and if so in compliance with any additional legal duties imposed on Members engaged in public practice.
A Member in public practice who is entrusted with money (or other assets) belonging to others shall:
A Member must as part of the acceptance and engagement procedures for a client make all appropriate inquiries required by law concerning the source of assets and funds and must consider at all times their legal and regulatory obligations in relation thereto.
A Member should not provide banking facilities for clients for a period exceeding 3 months and in any event should before that time at all times comply with Public Practice Regulation 15.3.
To hold a Practising Certificate, you must be a ‘fit and proper’ person.
To satisfy this condition the AIA will consider whether you have:
Additional requirements are in place for firms supervised for AML relating to criminal records checks.
IMPORTANT: you must notify AIA as soon as you are aware that you have become the subject of a police investigation, disciplinary action by any professional body or civil action.
See more guidance on what determines your ‘fit and proper’ status.
A Member holding a Practising Certificate is required to send their client an Engagement Letter which sets out the services to be performed, the scope of the member firm’s responsibilities, and the terms under which the firm is agreeing to be engaged by the client.
AIA Members in Practice must have arrangements in place to protect the anonymity of individuals who make a whistleblowing disclosure concerning the conduct of any individual employed by the member’s firm.
You should ensure that arrangements are put in place for the proportionate and independent investigation of such matters and for appropriate follow-up action.
These arrangements must comply with the Money Laundering Regulations.
A member of the Association who is engaged in public practice must supply the Association with all necessary information to enable the Association to comply with its obligations with respect to any legal and regulatory requirements that may exist in the country where the member is based.
Professional Conduct in Relation to Taxation (PCRT) is a document that has been produced to give specific guidance to accountants on how they should act when involved in tax work. PCRT puts fundamental ethical principles into context for the situations that arise when a member is involved in tax planning and tax compliance work.
A member of the Association who is engaged in public practice shall implement adequate procedures to handle client complaints in respect of fee, service, and contractual disputes.
Members engaged in public practice shall ensure that clients are made aware of how to complain if they are dissatisfied with the service that they receive, and that a client who raises a complaint is treated with respect.
Adequate arrangements for handling complaints shall include, but not be limited to, policies and procedures ensuring that:
On receiving a complaint, and throughout the process of investigating a complaint, a member or member’s firm shall determine whether it is required to inform its professional indemnity insurance provider of the complaint.
