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Practice Entity Membership FAQs
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What is Practice Entity Membership?  
Why would I want to apply for Practice Entity Membership? 
How do I apply for Practice Entity Membership? 
How much does practice entity membership cost? 
How do I advise the Institute of any changes to a Practice Entity Membership? 
 
Q: What is Practice Entity Membership?  
 
A: Practice Entity Membership is a form of membership available to Chartered firms. A Chartered firm is one that is entitled to describe itself as ‘Chartered Accountants’ and use the Chartered Accountants logo.  
 
Chartered firms must meet all the requirements of R9/1205, so Practice Entity Membership relies on all the directors/principals being members of the Institute, of one type or another, amongst other criteria. 
 
This membership is optional though, so while all Practice entity members will be Chartered firms, not all Chartered firms will be Practice entity members. 

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Q: Why would I want to apply for Practice Entity Membership? 
 
A: In the event of a claim, it is possible that any services provided through an incorporated practice entity may be considered to be the primary responsibility of the incorporated practice entity. If that is the case it will only be where that incorporated practice entity is a member of the Institute that the incorporated practice entity and its officers will get the benefit of the cap on liability. 
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Q: How do I apply for Practice Entity Membership? 
 
A: Complete and submit a CT-20_Practice_Entity_Membership_(B10d)_FA. 
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Q: How much does practice entity membership cost? 
 
A: Practice Entity membership is comprised of two fees. 
 
The first is a one-off application fee of $500, which is to cover administrative costs of processing applications and is to be paid at the time of lodgement of applications.  
 
The second is an annual levy of $55 which will be payable by the Institute to the Professional Standards Council for each practice entity member. This will be recovered from practice entity members at the time of approval of the initial application and thereafter will be billed as part of the annual membership subscription process.  
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Q: How do I advise the Institute of any changes to a Practice Entity Membership?? 
 
A: Complete and submit a CT-CT-40A_Change_of Practice_Entity_Membership_details. 
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