Summary of changes relating to various regulations
The latest version of the ACCA Rulebook is now available online and members can access a summary of the changes effective from January 2024.
The operating models of ACCA firms are changing, with a move away from traditional ownership models to alternative ownership structures. New models include non-partner funding such as private equity investors and employee ownership trusts (EOTs). Despite significant external investment from a third party, the day-to-day operations of the firm are usually still controlled by suitably qualified individuals.
In order to accommodate these new and emerging ownership models and allow eligible firms to continue to use the ‘Chartered Certified Accountants’ designation, ACCA has implemented a framework for the use of practice descriptions. The requirements are set out in regulations 16 and 17 of Section B4 (Descriptions of Professional Accountants and Firms and the Names of Practising Firms) of the Code of Ethics and Conduct, and are effective from 15 December 2023. A summary of the changes can be found on page 10 of the Rulebook Commentary 2023.
Read further guidance and download the required application form.