Accountants - those letters after their name

[Stag Cozier]

I am sure you know that AAT qualified can not sign the audit report. You have to ACA or ACCA in order to sing off the audit report (England and Wales).

I don't think being ACA or ACCA is enough. I thought you had to be a registered auditor to sign off an audit report. Anyone can "sing" off the audit report. Just watch X-Factor. They try to sing all the time

[Clare@InTouch]

I am sure you know that AAT qualified can not sign the audit report. You have to ACA or ACCA in order to sing off the audit report (England and Wales).

I didn't say an AAT qualifified person could sign an audit report, I said they could sign a set of accounts.

It is however quite common for an accountant (who could be AAT qualified) to prepare the accounts and then an auditor step in to sign off on the audit report.

[rmmc]

....Someone AAT qualified can sign off your accounts, ...

No - you don't need them signed off unless you're having an audit, and that only applies to quite large companies.

Sometimes it's useful for mortgage references though.

I am sure you know that AAT qualified can not sign the audit report. You have to ACA or ACCA in order to sing off the audit report (England and Wales).

[Clare@InTouch]

No - you don't need them signed off unless you're having an audit, and that only applies to quite large companies.

Sometimes it's useful for mortgage references though.

[ratewhore]

Someone AAT qualified can sign off your accounts

Most contractor Limiteds don't need their accounts signed off do they?

[Brussels Slumdog]

B Com

MAAT - Member of the Association of Accounting Technicians
ATT - Member of the Association of Taxation technicians
PCG - Passed the PCG course

BCom - no idea. Degree in Business & Commerce?

Qualifications don't necessarily mean that the person is good in practice in my view - sometimes experience makes more difference.

I have a BCom in Accounting and Business Economics

Batchelor Commerce - This is common in South Africa

I believe the equivalent in UK would be BA or Bsc Accounting

[Clare@InTouch]

And, not forgetting, CIMA too. Chartered Institute of management Accountants. I may be wrong, but I do not think that legally an ATT or AAT qualified person can describe themselves as professional accountants.

Legally anyone can call themselves an accountant, it doesn't have the same restrictions as the word Solicitor does.

Someone AAT qualified can sign off your accounts, plus they are regulated by a professional body so if you have a complaint there is somewhere you can go to make that complaint. They are also required to keep up with CPD, so you have reasonable reassurance they know what they doing.

It's like anything though, sometimes the best people are fully qualified up to their ears, and sometimes they hold no certificates but could wipe the floor with those who do. I've met and worked with both.

[northernladuk]

To be fair 99% of the work over year is not done by your accountant. He will probably just scan an eye over it before it is submitted. The rest of it will be done by an admin team. Don't kid yourself that you are paying for his time at all.

[Fred Bloggs]

And, not forgetting, CIMA too. Chartered Institute of management Accountants. I may be wrong, but I do not think that legally an ATT or AAT qualified person can describe themselves as professional accountants.

[mudskipper]

Thank you - it ain't simple is it?? Sounds like the new one is qualified for the job.

[Clare@InTouch]

Thanks Clare

So ATT is a "proper" accountant?

ATT is a tax qualification that is quite wide ranging and 'expert' level I suppose.

Someone who is AAT qualified is more than capable of prearing accounts and tax returns - it's a good qualification.

AAT and ATT are the same type of thing, but one is more focused on tax and one is more focused on accounting.


Chartered is ACA or FCA - Members of ICAS or ICAEW.

Then there's ACCA - who are Chartered Certified, on a par with the above Chartered but a different regulating body.

[mudskipper]

Thanks Clare

So ATT is a "proper" accountant?

[Clare@InTouch]

Just had an email from my accountancy firm (SJD) about a restructure, and I have a new account manager.

My old one signed herself:

MAAT ATT
PCG Accredited Accountant

The new one is :

BCom ATT

Anyone know what the letters mean? Am I being short changed?

MAAT - Member of the Association of Accounting Technicians
ATT - Member of the Association of Taxation technicians
PCG - Passed the PCG course

BCom - no idea. Degree in Business & Commerce?

Qualifications don't necessarily mean that the person is good in practice in my view - sometimes experience makes more difference.

[mudskipper]

Just had an email from my accountancy firm (SJD) about a restructure, and I have a new account manager.

My old one signed herself:

MAAT ATT
PCG Accredited Accountant

The new one is :

BCom ATT

Anyone know what the letters mean? Am I being short changed?