Chartered Institute of Public Finance and Accountancy

 

Members in Practice Handbook

The Members in Practice Handbook sets out the regulatory requirements for the Practice Assurance scheme. Practising Certificate holders are advised to familiarise themselves with the content.

The handbook includes: -

Practice Assurance Regulations
(PDF 96KB)		 This explains the governance of the scheme.
 
Council Statement on Public Practice
(PDF 28KB)		 This is the scheme scope - it states which members should register with the scheme and highlights some exclusions.
 
Standard of Professional Practice
(PDF 108KB)		 The Practice Assurance Standards and supporting guidance to assist in complying with the scheme requirements
 
Professional Indemnity Insurance
(PDF 44KB)		 PC holders are required to hold Professional Indemnity Insurance. This explains what level and the type of cover required.
 
Clients' Money
(PDF 56KB)		 PC holders may hold clients money - this states how these monies should be treated, and what arrangements a member should have in place.
 
Continuity Arrangements
(PDF 37KB)		 Continuity arrangements must be considered by PC holders - this outlines what members should do and how to set up arrangements
 
Professional Liability
(PDF 104KB)		 PC holders must consider the requirements for client engagements and ensure that their practice is meeting the required standards.
   
Clients’ Money Declaration
(PDF 80KB)		 This form must accompany your application/annual return if you hold, or will hold, any clients’ money  

CIPFA has also developed a Member in Practice logo for exclusive use by Practising Certificate holders. Guidance and the logo can be accessed via the Members secure website at http://learning.cipfa.org.uk/. Once logged in select My Membership and then Practice Assurance. A range of Help Sheets are also available to scheme members in this area.

If there are any specific documents or guidance that you think would help members in becoming part of the scheme, please contact practiceassurance@cipfa.org.uk.