Originally posted by rmmc
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Previously on "Accountants - those letters after their name"
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Originally posted by rmmc View PostI 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.
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Originally posted by Clare@InTouch View Post....Someone AAT qualified can sign off your accounts, ...Originally posted by Clare@InTouch View PostNo - 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.
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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.
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B Com
Originally posted by Clare@InTouch View PostMAAT - 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.
Batchelor Commerce - This is common in South Africa
I believe the equivalent in UK would be BA or Bsc Accounting
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Originally posted by Fred Bloggs View PostAnd, 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.
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.
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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.
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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.
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Thank you - it ain't simple is it?? Sounds like the new one is qualified for the job.
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Originally posted by k2p2 View PostThanks Clare
So ATT is a "proper" accountant?
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.
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Originally posted by k2p2 View PostJust 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?
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.
Leave a comment:
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Accountants - those letters after their name
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?Tags: None
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