Letterheads and Signage
The
Public Practice Regulations (the regulations) of Chartered Accountants Ireland set out the requirements regarding the names and letterheads of firms. Firms should familiarise themselves with these requirements. To follow are some important points to note:
- Letterheads must comply with partnership and company law as appropriate and with relevant legislation in relation to the use and/or registration of business names.
- The regulations require that it is clear from the letterhead whether any person named thereon other than persons named only in the name of the firm, is a principal of the firm, a sole practitioner or, in the case of a corporate practice, a director.
- A firm which uses the description ‘Chartered Accountants’ should clearly distinguish on its letterhead those persons named who are Chartered Accountants from those persons named who are not entitled to be so described by the use of designatory letters or otherwise.
- A firm may use the description “Chartered Accountants” only if the firm meets the requirements of Principal Bye-Law 22 of Chartered Accountants Ireland.
- All firms working in the reserved areas of audit and investment business must clearly display on their letterhead that their supervisory body is Chartered Accountants Ireland.
- A CPA Member Firm may, for a period of 24 months from the Amalgamation Time, continue to use the description “Certified Public Accountants” or “CPA” if entitled to do so under the CPA Rules at Amalgamation Time.
- Firms should endeavour to update their letterheads and signage as soon as possible.
Investment Business and letterheads
In accordance with the Investment Business Regulations of Chartered Accountants Ireland the stationery and electronic communications of firms authorised to carry on investment business must bear the following text: “Authorised by Chartered Accountants Ireland to carry on investment business”.
If the firm is also registered by Chartered Accountants Ireland to carry on audit work, the stationery may bear the following text: “Registered to carry on audit work and authorised to carry on investment business by Chartered Accountants Ireland”.
If the firm uses a trading name the text must start: “(Trading name) is a trading name of (Name of Firm), which is….” followed by the appropriate wording from above.
The firm must use the text above on the section of its website that relates to investment business.
A firm must have separate sections on any website that it operates, for investment business and any other activities which it carries out.
Audit firms and letterheads
While there is no requirement in the regulations for a firm’s letterhead to carry a legend stating that it is a registered or statutory auditor, the EU’s Services Directive, requires such a disclosure to clients and potential clients, together with the name of the member state that the registration is for. A firm is also required to give the name of the register that its details are contained on, with a reference so that the entry can be found. This information can be supplied on a firm’s website, as a note on a firm’s letterhead or in documents available to the client or potential client.
A suggested wording for disclosure of the registering Institute is:
‘registered to carry on audit work in Ireland by the Institute of Chartered Accountants in Ireland.’
For the disclosure about the audit register, a suggested wording is:
‘details about our audit registration can be viewed at www.cro.ie/auditors, under reference number [this is the firm number provided by the Institute]’
In addition, a firm may describe itself as a firm of registered auditors or statutory auditors.