Going into practice: How to be prepared
There’s a great deal involved in running your own practice – it’s not simply knowing the technical aspects of what you will advise on, but also the legal (insurances, employees, etc) and regulatory requirements (AML supervision, licences, etc).
In order to support members going into practice there is a mandatory requirement set by ICAS for all new practicing certificate (PC) holders to undertake appropriate training within 12 months (before or after) of a PC being granted.
This requirement can be met by undertaking training which covers the themes and topics noted below, for instance if you are becoming a partner and attend your firm’s practice/partnership leadership programme.
ICAS also runs its own practice management course, and it will run three times over the course of 2024 as follows:
- Wednesday 13 March 2024, 9.30 until 13.00 GMT, online
- Tuesday 11 June 2024, 9.00 for 9.30 until 14.00 BST, in person in Glasgow
- Wednesday 6 November 2024, 9.30 until 13.00 GMT, online.
Each ICAS course is £120.00 ex VAT per person.
The practice management course provides an opportunity to understand the responsibilities of a member in practice but also to consider issues which affect practice management more generally. You’ll be given an opportunity to get connected to a network of like-minded and similar stage members and get to know those within ICAS who are able to offer you support in the new stage of your career.
By the end of the course, you should be able to:
- Understand the regulatory landscape for PC holders.
- Appreciate the essential responsibilities of being a PC holder.
- Recognise the key financial performance factors of a CA firm.
- Have knowledge of key challenges facing CA firms and the opportunities that they present.
- Know what support and guidance is available from ICAS.
If you would like to attend an ICAS course, please register here.
