Eligibility and Requirements
A Member who offers professional accounting and/or related services to the public pro-bono or for a fee is required to hold either an IPA Limited Professional Practice Certificate (Limited-PPC) or an IPA PPC.
An IPA PPC holder may be eligible for a discounted PPC rate If they hold a Certificate of Public Practice with CA ANZ and/or a PPC with CPA Australia.
Do you need a Limited-PPC or a PPC?
To be eligible to hold a Limited-PPC, your practice turnover must be less than the tax-free threshold, currently $18,200 per annum and you cannot hold a statutory registration with ASIC, the TPB, or any other government body.
If your practice turnover exceeds the tax-free threshold or you hold a statutory registration, then you must hold a PPC.
Both Limited-PPC holders and PPC holders are permitted to advertise their professional services to the public and operate a website to market these services.
If your professional practice services are limited to bookkeeping/BAS agent services as defined by the TPB, and you hold a BAS agent registration with the TPB, you may be eligible for a Public BAS Practitioner Certificate, which is IPA membership and a PPC rolled into a single discounted offering.
Chapter 9 of the IPA's By-Laws defines accounting and/or accounting related services as:
- Accounting
- Provision of tax advice and tax agent/BAS agent services
- Auditing / SMSF Auditing
- Business or Management Consulting
- Bookkeeping
- Mortgage Broking
- Compilation of Financial Reports
- Company Secretarial
- Superannuation
- Insurance
- Information Technology (Accounting/audit Software)
- Insolvency and Bankruptcy
- Debt Collection
- Forensic Accounting
- Risk Management
- Restructuring Advice
- SMSF Advice
- Financial Advice
- Business Advice
- Financial Planning / Investment Advice
To apply for a Limited-PPC, you must show evidence of competency in Australian Corporations Law and Australian Taxation Law. This study must have been completed within the last 10 years. If the study was completed over 10 years ago, you will be required to provide evidence of relevant industry experience and CPD for IPA assessment.
To apply for a PPC, you are required to show evidence of competency in Australian Corporations Law and Australian Taxation Law if you do not hold a statutory registration with ASIC, the TPB or any other government body. This study must have been completed within the last 10 years. If the study was completed over 10 years ago, you will be required to provide evidence of relevant industry experience and CPD for IPA assessment.
Professional Indemnity (PI) Insurance Requirements
If you're applying for a Limited-PPC, you must provide evidence that your Professional Indemnity (PI) insurance policy provides cover for the amount of $1 million per claim / reinstatement and has at least one reinstatement. The PI insurance requirements are included in By-law 9.1.8.
If you're applying for a PPC, you must provide evidence that your PI insurance provides cover for the amount of $2 million per claim / reinstatement for practices with a turnover up to $10 million (ex-GST) and $10 million per claim / reinstatement for practices with a turnover of $10 million and over (ex-GST). All policies must have at least one reinstatement. The PI insurance requirements are included in By-law 9.1.11.
We have an in-house insurance broker, IPA Insure, offering competitive PI insurance policies for IPA Members. Click here for more information.
Mini Professional Practice Program and the Professional Practice Program
Limited-PPC holders are required to successful complete the IPA Mini Professional Practice Program within 6 months of being issued with a Limited-PPC. The Mini Professional Practice Program is weeks 1 – 3 of the full IPA Professional Practice Program.
PPC holders are required to successfully complete the IPA Professional Practice Program within 6 months of being issued with a PPC. The Professional Practice Program is an online interactive workshop that runs over six weeks that provides you with the tools needed to successfully manage and grow your professional accounting practice. Click here for more information.
Further details are available on the IPA Rules and Standards page and we recommend you read these before applying for a Limited-PPC or a PPC.