PROFESSIONAL PRACTICE DEPARTMENT

The Professional Practice Department (PPD) is an organ of the Institute that is saddled with the responsibilities of catering for the needs of Members in practice. The Department is responsible for the execution of the terms of reference of Professional Practice Committee and Small and Medium Practice Committee.

Specific deliverables of the department are:

• Professional Practice Monitoring Exercise:To carry out review of the practice firms operated by Members of the Institute and to ascertain whether they comply with the Auditing standards, Professional Code of Conduct and Guides for Members, Laws and other relevant regulations
• Review/Update of Statement of Membership Obligations (SMOs) and Dashboard Report:To regularly review and update SMOs and the DBR to ensure that the Institute is consistently and continuously recognised globally as a Professional Accountancy Organisation (PAO) that is contributing to the growth of the profession. The objective of this policy is to ensure that the Institute retains its membership of IFAC.
• Review/Update of Standards and Developments of Technical Documents:This will assist Members in practice to deliver high quality services to their clients
• Processing of Practice Licences for Members (Fresh and Renewal):This is to ensure that due process is followed in granting practice licences to qualified Members of the Institute and other related matters.
• Practice Attachment:All Trainee (Qualified Audit Trainee and Student Audit Trainee) must be registered with the Institute. The department assists Members throughout the process.
• Practice Seal:Assist Members in practice through the process to obtain Practice seal.
• Change of Firm’s Name:Assist Members in practice through the process for change of firm’s name if need arises.