Practising Certificate ("PC")
Last update in Oct 2018
Q1. May I renew my PC without paying the member annual fee?
Under the PAO , only members of the Institute are eligible to apply for a PC from the Institute. As such, you must pay both member and PC annual fees, and file the CPD and PC declarations via the member and practising certificate annual return before you can complete the PC renewal procedures .
Q2. I am the sole proprietor of a firm/corporate practice and will not practise in my own name. Can I cancel my PC?
No. You must be a PC holder, i.e. continue to renew your PC, before you are eligible to register as a sole proprietor or a practising partner/director of a CPA practice.
Q3. I have not signed any audit report in this year. Am I eligible to renew my PC for next calendar year?
Under the current policy, there is no requirement on the number of audit reports that have to be signed by a PC holder annually. You may continue to renew your PC for next calendar year provided that you have satisfied all the prevailing
PC renewal requirements .
Q4. Would becoming bankrupt affect my membership/practising status?
Bankruptcy will not affect your membership registration. However, under
section 30(7) of the PAO, a PC shall not be issued to, and the Council may cancel the PC of, a CPA who is or has become bankrupt or has entered into a voluntary arrangement with his creditors within the meaning of the Bankruptcy Ordinance (Cap 6).
Q5. I have paid and filed annual return. When will I receive my PC certificate for next calendar year?
If you have paid and filed your annual return before the 15 December renewal deadline, a notice for collection of your certificate will be sent to you in the last week of December. Similar collection notice will be issued on weekly basis to those PC holders who have completed the renewal procedures at a later date.
Q6. I will not renew my PC after it expires on 31 December. What should I do to renew my membership registration?
You may indicate in the "Annual Return for Membership and Practising Certificate Renewal" that you will not renew your PC, and complete and submit to the Institute other parts of the Annual Return together with payment of your member annual fee.
As an alternative, you may send a duly signed written notice to the Institute's Admission Department for processing.
