top stories
What Work Can I do Without a Practising Certificate
Members, affiliates and students often ask questions about what work they can do without holding an ACCA practising certificate.
Click here to view ACCA's guidance which deals with this issue.
The following frequently asked question deals specifically with VAT returns as this is a common scenario:
Question:
Can an ACCA member who does not hold a practising certificate or an ACCA student prepare a VAT return for an entity?
Answer:
The answer uses the term "members" but the answer would apply equally to "affiliates" and "students".
1. If preparing another entity's VAT return and undertaking the assignment on the members own account:
(a) If charging a fee for the assignment the work can be done, on condition that the VAT return is prepared by transcribing figures from a management report onto a statutory return, and it is clear that the client has considered the management report and approved the figures that have been incorporated into the return prior to its submission". The member would not be able to register with the taxation authority as an agent for the client as a practising certificate would be required to so register.
(b) If not charging a fee the member would be able to undertake the activity either:
(i) If the conditions in 1(a) above are satisfied; or
(ii) The conditions of the "honorary reports" are satisfied.
The honorary reporting conditions can be found in Global Practising Regulations 2.2 paragraph 4 of the ACCA Rulebook 2012; click here for details.
2. If the ACCA member is an employee of the entity then that member can prepare the VAT return for that entity. If authorised to do so the ACCA member can also submit the VAT return to the taxation authority, although this would be done on behalf of that entity and not as an agent of the entity.
3. The ACCA member is permitted to prepare his own VAT return.
Members, affiliates and students should ensure that they only undertake work that they are competent to perform.