After speaking to the institute there are no rules stating that you cannot be an practice as an accountant whilst on an iva, however some firms do credit checks on you when you apply for jobs and this might go against you, but you are able to practice whilst being on an iva. I also found out today that one of the partners in my firm is currently on one, im trying to pluck up the courage to ask him about it, but I don't want to embarrass him.
I stand corrected then, I didn't think you could be.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Bankruptcy would lead to the loss of Chartered status but even than an accountant can continue to operate. If you are going to remain with your current firm it should not be an issue as they will unlikely do annual checks but if you are considering moving the new firm may run a check.
Many firms do ask employees to complete fit and proper questionnaires on an annual basis and it does ask about IVAs. I would advise speaking to HR or a manager if you are an accountant as you do not want to have problems later on.
Thanks for correcting me on that. I shall remember for future reference.
Sorry!
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
It may interest people to know that there are employers who trust bankrupt or ex bankrupt accountants. My Parish Priest appointed an ex bankrupt ex Chartered Accountant as Bursar to a school for which he is totally responsible; this ex- bankrupt bursar handles a great deal of money and, when he took over, discovered irregularities in the accounts (which were missed by the auditors) dealt with by the previous bursar. My PP is very firmly of the view that there is, in general, no correlation whatsoever between bankrupts and dishonesty. He had an enormous row with the school's bankers over this appointment and told them that if they sacked all their employees who are in known financial trouble then they would find themselves (probably) not only up before employment courts but also in the libel courts. He won his argument.
Sorry Jan I hope you don't think I was correcting you as you easily know as much as me about IVAs. There are potential problems with accountants and insolvency but hopefully our posters will be alright.
Michael - just caught up with this. You know way more than me about IVA's. I know I don't always get it right and don't mind if I am corrected about something if I am wrong.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
