Benefits of Membership

Designation- Use of the designation, Incorporated Public Accountant and use of the designatory letters FPA (Fellows) and APA (Associates).

Practising Certificates- members engaged in public practice, on their own account who hold professional indemnity insurance (see below) adequate for the size of their practice and are undertaking some form of continuing professional education (again see below) are eligible for a practising certificate.

Group Insurance Scheme- the Association has negotiated a group insurance scheme, with a major British insurer, which provides the following cover:

Professional Indemnity: cover- £250,000 each and every claim, fee income- up to £295,000 p.a., excess- £500.

Public Liability: cover- £2,000,000, excess- £250;

Employers Liability: cover- £10,000,000, excess- nil;

Office Contents: cover- £5,000, excess- £250;

Business Interruption*: cover- £25,000, excess- nil;

Legal Fees Insurance: £50,000, excess- nil.

Continuing Professional Education (CPE): members can attend the Associations CPE seminars, held at many locations throughout the country on a regular basis.

Professional Accountant Magazine: members receive a regular copy of Professional Accountant Magazine, the magazine for the professional practising accountant, packed full of tax and business information as well as information on the Association and its upcoming events.

Institutional Membership: the Association is a member of the Confederation of Independent Accountancy Bodies and the Commonwealth Federation of Accountants.

Recognition: the Association’s examinations are recognised on a subject for subject basis by: the Association of Certified Management Accountants; Society of Practising Accountants and Association of Licensed Trade Accountants.

Cost

The cost, for all grades of membership, is £39 per month, payable by standing order.