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Urgent Accountant Qualification Question

Only for UK Tier 1 (Entrepreneur) points system. This route is now closed to new applicants.

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aron1234
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Urgent Accountant Qualification Question

Post by aron1234 » Wed Jun 01, 2016 9:22 am

I have past 2 years un audited accounts but have the accounting firm name not single accountant name with qualification. Would someone please let me know is it necessary to show the accountant name and qualification in the accounts and because it doesn't have what are my options ?

Please advice me

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zimba
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Re: Urgent Accountant Qualification Question

Post by zimba » Wed Jun 01, 2016 9:37 am

Accountant name = the name of the firm
The governing body the accountancy firm is part of usually appears in the compilation report
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aron1234
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Re: Urgent Accountant Qualification Question

Post by aron1234 » Wed Jun 01, 2016 9:43 am

Hi Zimba thanks for your fast reply , the guidance says "The accounts must clearly show the name of the accountant, the date the accounts were produced, and how much you have invested in the business".

Would you please clarify if the accountant need to show his qualification as they are asking for specific qualifications as requirement? It's little confusing or do I need to provide any other letter separately to show accountant qualification

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zimba
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Re: Urgent Accountant Qualification Question

Post by zimba » Wed Jun 01, 2016 9:59 am

As I said it is usually the accountancy firm name that should be clearly written on the accounts. They also require accountant to be registered with certain bodies as given in the guide. Your accountant can include this information in the compilation report. Talk to your accountant
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dnf
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Re: Urgent Accountant Qualification Question

Post by dnf » Wed Jun 01, 2016 1:28 pm

On the accounts, it is always the firm name, which is required by at least the ACCA by laws(which is what I have to abide by).

Your accountant must write a letter confirming his/her full name, his registration number and that he/she is a fully qualified member of the relevant accountancy body.

thutmose
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Re: Urgent Accountant Qualification Question

Post by thutmose » Wed Jun 01, 2016 1:44 pm

what if the accountant writes his name on the accountant's report too?

Example

XXXX YYYY AFA/ACCA/MAAT
AAAAA Accountancy
address

It is more like what HO wants isn't it?

dnf
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Re: Urgent Accountant Qualification Question

Post by dnf » Wed Jun 01, 2016 1:58 pm

Thutmose

The accountant can choose to write his/her name on the compilation report. However, if he/she is an ACCA member than he/she may not want to do it due to ACCA by laws.

Home Office want to know that the accountant preparing the accounts is a qualified accountant, which is why a letter would be required. On that letter, the accountant would draw H/O attention to the compilation report, which may have the firms name under it but the letter clearly indicates that the report was prepared by a qualified accountant on behalf of the firm.

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