Re: Bookkeeping/accounting associations?

Question

I am in the process of becoming self employed and wondered if anybody could tell me the best association to become a member of, if any

I was looking at AAT, ICB and IAB.

Any help and suggestions will be very much appreciated.

Answer 1

Hi

Yes it is worth joining one of the main bodies, if only because of the requirements of the money laundering regulations 2007.  The main bodies recognised by the government under these regulations are:

• Association of Chartered Certified Accountants

• Institute of Chartered Accountants in England and Wales

• Institute of Chartered Accountants in Ireland

• Institute of Chartered Accountants of Scotland

• Association of Accounting Technicians

• Association of International Accountants

• Association of Taxation Technicians

• Chartered Institute of Management Accountants

• Chartered Institute of Public Finance and Accountancy

• Chartered Institute of Taxation

• Insolvency Practitioners Association

• The International Association of Book Keepers

• Institute of Financial Accountants

• Institute of Certified Book Keepers

All of these are good in their own way - but they all serve very different markets. For instance an AAT (Accounting Technician) is a very different job to a book-keepeer (ICB or IAB), which is very different to a tax practitioner (CIOT for charteres or ATT for technician level), which is very different to an accountant - and each of the different types of accountant are chalk and cheese.

So this question is impossible to answer without knowing what you want to do!

Answer 2

Have you looked at ACCA?  Im not sure if thats what you are after but I'm doing a course through them & they are very professional & a plus on anyone's side, if you are involved with accounts.  Good luck

Answer 3

AAT is good for starting with bookkeeping.  Provided you get good results in their exams you can go on to do your professional qualifications with ACCA or CIMA and get a couple of exemptions.  (That's how it was years ago when I was studying.)

Once you have your qualifications, consider joining a body like AIMS which is for accountants specialising in small businesses.

Good luck!