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Members in Practice

A member of AAT Sri Lanka (other than a practicing Chartered Accountant) is deemed to practice as a Professional Accountant in Public Practice (“Member in Practice” / “MIP”) if in consideration of remuneration received or to be received, he or she engages himself / herself in Professional Services or holds himself / herself out to the public as a Professional Accountant in Public Practice on a self-employed basis (part time or full time);

  • as a sole proprietor

OR

  • as a partner (whether salaried or equity) in a partnership.

 

Members in Practice shall be required to possess a valid AAT Practicing Certificate, which would be applied for by Members in Practice, as applicable.

Note: Applicants for the MIP Certificate under any of the above categories will be required to face a VIVA. MIP certificate is subject to an annual renewal with a fee equivalant to the enrollment fee. 

 

There are 2 categories of AAT Practicing Certificate which should be applied for by Members in Practice, as applicable;

1. AAT PRACTICING CERTIFICATE FOR APPROVED ACCOUNTANTS (FELLOW MEMBERS)

Eligibility

Active Fellow Members (FMAAT) of AAT Sri Lanka (other than practicing Chartered Accountants) who have 2 years of post AAT membership.

(For obtaining the Authorized Representative status under the Inland Revenue Act, having post qualification experience of at least 10 years in the field of accounting (not being self-employed) is a pre-requisite).

Entitlements

The AAT Practicing Certificate for Fellow Members entitles the holder of the certificate to:

  • Practice as an Approved Accountant in terms of the Inland Revenue Act;
  • Practice as an Authorized Representative in terms of the Inland Revenue Act; and
  • Engage in any Other Professional Accountancy Services (other than statutory audits).

 

II. AAT PRACTICING CERTIFICATE FOR OTHER PROFESSIONAL ACCOUNTANCY SERVICES

Eligibility

Active Members of AAT Sri Lanka (other than practicing Chartered Accountants) who have 2 years of post AAT membership.

Notes: Applicants for the MIP certificate under any of the above categories will be required to face a viva. MIP certificate subject to an annual renewal with a fee equivalent to the enrollment fee. 

(For obtaining the Authorized Representative status under the Inland Revenue Act, having post qualification experience of at least 10 years in the field of accounting (not being self-employed) is a pre-requisite).

Entitlements

  • Practice as an “Authorized Representative” in terms of the Inland Revenue Act; and
  • Engage in any Other Professional Accountancy Services (other than statutory audits).

 

MIP Current Fee Structure 

  • Approved Accountants - Rs 10,000/- 
  • Other Professional Services - Rs 5,000/-

 

Application for Practicing Certificate