May seem like a strange question but......

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
Hi<BR><BR>May seem like a strange question, but what does ACCA / Cima entitle you to do that you cant do with AAT?<BR><BR>As a MAAT, you can sign accounts off sole trader and limited companies accounts and submit these to companies house, can't you?<BR><BR>And if you complete the Audit options, can you audit companies?<BR><BR>If above is correct, whats the point in becoming Charted / Certified?<BR><BR>Any comments welcome.<BR><BR>Bye Bye<BR><BR>

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    May seem like a strange question but......

    I think that you will have difficulties signing off limited company accounts and auditing. I think that only ACCA or ACA with practicing certificates can officially audit but I'm sure someone will confirm it.<BR><BR>Annette
  • System
    System Posts: 100,534 🤖 Admin 🤖
    May seem like a strange question but......

    With AAT youâ??re an accounting technician, and with the professional bodies youâ??re a qualified accountant. <BR><BR>Directors are able to submit their own company accounts to companies house, and a director doesnâ??t need any qualification - a company can be purchased â??off the shelfâ?? for about £100, so anyone with £100 can be a Ltd. company director.<BR><BR>Qualified accountants submit accounts for Sole Traders and Ltd Companies on BEHALF of the proprietors and directors of the company therefore, the directors are still responsible for the contents of the accounts/financial statements and not the accountant â?? so in essence the directors sign off their own accounts, not the accountants. <BR> <BR>Auditing is totally different and must be carried out by a qualified auditor / registered Auditor, therefore I do not think that an AAT member would hold this status ( I may be wrong since I never took the auditing option via AAT â?? AAT would be the best people to contact directly regarding auditing issues).<BR><BR>Donâ??t take what I have said as gospel, but Iâ??m 98.9% sure itâ??s accurate. <BR><BR>
  • System
    System Posts: 100,534 🤖 Admin 🤖
    May seem like a strange question but......

    Hi<BR><BR>Thanks they were just the answers I wanted. I am not interested in doing audit, so that good. <BR><BR>Sometimes it can get confusing when people ask what the limitations are of doing AAT and you have just comfirmed what I thought.<BR><BR>Thanks for your help.<BR><BR>Bye
  • System
    System Posts: 100,534 🤖 Admin 🤖
    May seem like a strange question but......

    <BR><BR>As I understand it, it is only Public Limited Companies (PLC's) that require that accounts must be signed off by a qualified accountant.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    May seem like a strange question but......

    Another difference...<BR><BR>...the salaries offered!

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