Professional Standards Scheme - Entity Membership
Protect your Entity under the IPA Professional Standards Scheme. IPA members who hold a PPC can protect their Entity (Australian company) under the IPA Professional Standards (PS) Scheme. This will afford PPC holder Entities the protection of the PS Scheme cap that individual PPC holders currently enjoy.
For your Entity to be admitted into the IPA PS Scheme, the following conditions must be met:
- All directors of the Entity must be Members of the IPA, hold an IPA PPC and be an IPA PS Scheme Participant, or
- At least one director of the Entity must be an IPA Member, hold an IPA PPC and be an IPA PS Scheme Participant and any other directors of that Entity must be either Members of Chartered Accountants Australia and New Zealand (CA ANZ) and / or CPA Australia, they must hold a PPC / Certificate of Public Practice (CPP) and be a PS Scheme participant of that other professional accounting body.
Shareholders that hold a majority of votes that may be cast at a general meeting of the company’s shareholders must be Members of either the IPA and / or CA ANZ and / or CPA Australia, they must hold a PPC / CPP and be a PS Scheme participant of their professional accounting body
Approved applications for Entity Membership attract a $355 fee and an annual $99 PS Scheme fee for the Entity, in addition to the existing $99 PS Scheme fee that individual PPC holders currently pay.
At the expiry of each PS Scheme (usually 5 years), PPC holders can reapply for Entity Membership if they want their Entity to participate in the new PS Scheme. If an application is approved, it will attract a new application fee. The current PS Scheme expires on the 31 December 2026.
The IPA advises PPC holders to consider having their Entity protected under the IPA PS Scheme so that both the PPC holder and the Entity have some level of protection against litigation.
Complete our Entity Membership Form to apply.
For more information, please contact:
Andrew Best
E: [email protected]
Ph: (03) 8665 3148