Professional membership FAQs

Yes, the IAB is one of the most prestigious not-for-profit organisations for professional bookkeepers.

IAB has a board of directors and a team of dedicated staff who oversee training awards, membership services and AML compliance.

IAB-UK membership is available to residents of England, Wales, Scotland, Northern Ireland, The Channel Islands, and the Isle of Man.

Overseas residents are eligible to join with IAB-Overseas membership

Professional membership is available for those who have gained a relevant bookkeeping qualification from IAB or another awarding body.

Alternatively, for those who are skilled in bookkeeping but do not yet hold a formal qualification we offer a route to membership by undertaking an industry standard online test.

Professional membership provides access to IAB services and resources and members are entitled to use the post nominal letters: AIAB, MIAB or FIAB

Different fees are involved for the three membership grades.
AIAB – Associate
MIAB – Member
FIAB – Fellow

To undertake the entry test or apply for professional membership please contact the membership team on +44 (0)208 187 8888 or membership@iab.org.uk.

The IAB works with government as well as standard setting bodies to promote the professional integrity of bookkeepers.

IAB is connected at national level and represents its members and students professional needs. Including for example

• UK National Risk Assessment (Publication)
• Sector Guidance – Information Sharing Expert Working Group)
• AML Supervisors Form
• AASG (Accountancy AML Supervisors Group)
• Treasury Employment & Payroll Group
• Agent Support Group
• Companies House Accountancy Round Table
• AML Supervision Ministerial Round Table

Membership is available for those who have gained a relevant bookkeeping qualification at Level 2 from IAB or another awarding body.

Alternatively. for those who are skilled in bookkeeping but do not yet hold a formal qualification we offer a route to membership by undertaking an industry standard online test.

To undertake the test or apply for professional membership please contact the membership team on +44 (0)208 187 8888 or membership@iab.org.uk.

Different Annual Membership apply for the three Membership Grades as follows:

IAB Associate £100
IAB Member £125
IAB Fellow £145

(Effective October 2020)

Please contact the membership team for more information on +44 (0)208 187 8888 or membership@iab.org.uk.

Yes, you can. IAB recognise that many practitioners may have experience and training without having obtained a formal qualification. We provide a route to membership using a professional and widely recognised online test provider. You can take a test to demonstrate your Bookkeeping knowledge and qualify for IAB membership.
Speak to our Membership team about the test or to apply for professional membership on +44 (0)208 187 8888 or membership@iab.org.uk.

IAB offer three professional membership Grades:
‘Associate’, ‘Member’ and ‘Fellow’. AML Supervision (which is legally required before the offer of bookkeeping services as a business) is available to ‘Member’ and ‘Fellow’ grades.

IAB membership commences from the month your application is accepted and is renewable every twelve months.

The moment you join the IAB as a fully-fledged member, you open the door to exclusive opportunities to grow your career – and build your future.

Offering a wealth of resources and discounts, professional membership also lets future employers know you are ahead of the field.

Some of the benefits of joining the IAB today are:

• Professional status: You can use the IAB’s designatory letters after your name, elevating your status to the most professional level in the industry.

• Be in the know: Regular email newsletters and print magazines keep you up to speed with all the latest news, industry, and legislation developments.

• Upgrade skills: Continue your professional development through seminars and online modules – enabling you to learn new skills.

• Comply with the law: Register to be supervised under the Money Laundering Regulations

• Best practice advice: You will have access to a member’s handbook which is packed with invaluable information and sample documents to save you time such as Letters of Engagement, Compliance Checklists, etc

• One to one support is available through our Ambassador programme of experienced professionals.

• Online resources: Access critical updates, information, and practical tools through the Members’ Area of the IAB website.

Yes, the IAB is an approved statutory AML supervisor and has authority to supervise its professional members operating in the UK.

By law, you have to be supervised if you have your own business practice providing bookkeeping or related services.

Once registered for AML Supervision by IAB you will not also need to register with HMRC for AML purposes.

IAB Supervision provides:

• Certificate of AML Supervision for your business practice.
• Access to best practice and up-to-date legislative guidelines.

• Up to date information and intelligence alerts on crime and money Laundering trends from government and law enforcement agencies.

• Guidance and access to training in relation to the Anti Money Laundering Regulations.

• Oversight to check that your practice is compliant and to identify gaps and areas for improvement.

In turn, as a supervised practice you must put in place the necessary procedures to deter money laundering and terrorist financing and comply with the regulations.

For advice on how to apply for IAB supervision, or how the IAB can best help you, please contact the Membership Team on +44 (0)208 187 8888 or membership@iab.org.uk.

Separate registration for AML supervision is necessary. There is an application process, and you will need to prepare so that your business practice is compliant with AML Regulations.

This IAB guide provides more information on application for AML Supervision.

To download the Preparing and Applying for AML Supervision click here

For more advice on how to apply for IAB supervision, or how the IAB can best help you,
Contact the Membership Team on +44 (0)208 187 8888 or membership@iab.org.uk.

Guidance on rates is difficult as prices do vary depending on the type of work, the region in which you work and the clients you may have. We usually suggest internet research or contacting other bookkeepers in your area so you can benchmark local market rates.

Integrity is a key issue across the financial services sector and IAB now requires.
evidence of a recent DBS check for membership and in relation to AML Supervision.

DBS checks are a government service which confirms there are no convictions for a ‘relevant offence’ under the AML Regulations.

(Relevant convictions would also legally prohibit registration for AML Supervision)

There are different levels for DBS checks. IAB require only the ‘Basic’ version. These are arranged by the individual direct with the DBS service who will provide them with a certificate (or similar electronic version) which the individual then forwards to IAB.

All DBS check information provided to IAB is treated carefully and confidentially and certificates are not retained.

This UK government site provides information and guidance about DBS checks:

https://www.gov.uk/guidance/basic-dbs-checks-guidance

IAB recommends that members use one of the three UK devolved Government DBS.
Websites.

Note: if your DBS certificate is more than 6 months old, you may need to get it updated.

For more information, please contact the Membership Team. on +44 (0)208 187 8888 or membership@iab.org.uk.

Yes, the IAB is one of the most prestigious not-for-profit organisations for professional bookkeepers. It is controlled by its members and has an elected council, which is formed of IAB members who take on the role of directors of the IAB.
At the forefront of benchmarking, the IAB works with government as well as standard setting bodies to promote the professional integrity of bookkeepers. Below are just some of the ways in which the IAB represents its members and students on a national scale:
  • A key partner in the Growth and Innovation Fund project, addressing the financial skills needs in micro and small business, creating bookkeeping and payroll apprenticeships and improving the skills of unemployed people.
  • A key supporting partner in the ‘Get Mentoring’ initiative, funded by the Department of Business, Innovation and Skills and led by SFEDI, which has successfully trained over 15,000 mentors to support new businesses.
  • With the Financial & Legal Skills Partnership, the IAB led the work creating the bookkeeping units of the QCF in England, and similarly with the payroll units, with the Chartered Institute of Payroll Professionals. The IAB also helped initiate bookkeeping apprenticeships.
  • International export of the IAB’s Ofqual regulated qualifications (utilising the effective support of UKTI Growth), enabling the IAB to equip those in developing economies with the essential financial skills for their businesses, and to improve individual career prospects and progress.
  • Offering support to those young entrepreneurs accessing Start Up Loans, with the aim of ensuring that they have the necessary financial skills to success, or otherwise have access to training and accredited qualifications, or access the support of a qualified and regulated IAB bookkeeper.
  • Representation of bookkeepers at national level (for example, the HMRC Employment Consultation Forum and the Tax Agent Strategy.)

You are automatically given a year’s free student membership when you register for an IAB qualification. Student membership doesn’t automatically grant you professional membership.

Professional membership is completely separate to this and is for those who have gained an IAB level 2 qualification or higher or an equivalent with another awarding body. There are fees involved with professional membership. To apply for professional membership please contact the membership team on +44 (0)208 187 8888 or membership@iab.org.uk.

To apply for membership you need to have an IAB level 2 qualification or higher. We also have an exemptions database so if you hold any qualifications equivalent to this with another awarding body you may also apply.
There are three levels of professional membership: Associate, Member and Fellow. In addition Fellow members will also have ‘Registered Bookkeeper’ status.

The cost does depend on the level of membership which you are applying for and the country in which you live. The three levels of membership are Associate, Member and Fellow. This is reviewed on a yearly basis and half year fees are in operation from 1st June onwards. For a list of fees please click here. If you don’t live in the UK please contact the Membership Department for the fees list: membership@iab.org.uk or +44 (0)208 187 8888

The membership runs from 1st January until the 31st December each year for all professional members.

The moment you join the IAB as a fully-fledged member, you open the door to exclusive opportunities to grow your career – and build your future.
Offering a wealth of resources and discounts, professional membership also lets future employers know you are ahead of the field.

Some of the benefits of joining the IAB today are:

1. Professional status: You can use the IAB’s designatory letters after your name, elevating your status to the most professional level in the industry

2. Be in the know: Regular email newsletters and print magazines keep you up to speed with all the latest news, industry and legislation developments

3. Upgrade skills: Continue your professional development through seminars and online modules – enabling you to learn new skills

4. Comply with the law: Register to be supervised as a member in practice under the Money Laundering Regulations

5. Best practice advice: You’ll have access to a member’s handbook which is packed with invaluable information and sample documents to save you time such as Letters of Engagement, Compliance Checklists, etc

6. Be organised: A tax data card and online tax rates centre means key information is always at your fingertips

7. One to one support: Access any technical advice you need from a team of experienced members

8. Online resources: Access a wealth of information and practical tools through the Members’ Area of the IAB website.

For a complete list of the benefits available please click here.

To find out how you can apply for professional membership please click here.

Yes, the IAB is an approved statutory supervisor. It was granted authority to supervise its professional members under the Money Laundering Regulations.

By law, you have to be supervised if you have your own practice and are:

  • A bookkeeper, payroll administrator
  • An accountant, auditor or tax adviser

Our members in practice are entirely supervised by us, so you won’t need to register with HMRC. Please note this only applies to practices in the UK. IAB membership entitles you to:

  • Access best practice and up-to-date legislative guidelines
  • Be legally supervised under our regulation framework
  • Receive a compliance certificate in line with your membership level

Certificate of AML Supervision: Associate Members only

Practising Certificate: For Members and Fellows only

In turn, as a sole trader or company, you must put procedures in place to deter money laundering and terrorist financing.

For advice on how to apply for IAB supervision, or how the IAB can best help you, please contact the Compliance Team: compliance@iab.org.uk or +44 (0)1732 897750.

Yes, once your membership has been approved you can then apply for anti-money laundering supervision. The cost for this is currently £160 for the year and it is mandatory for you to have professional indemnity insurance in place upon application. We do have a list of providers who offer preferential rates to IAB members for this. We can send this to you or alternatively you are free to choose your own provider.

For advice on how to apply for IAB supervision, or how the IAB can best help you, please contact the Compliance Team: compliance@iab.org.uk, or +44 (0)208 187 8888. You can also view more information here.

We are unable to provide an exact answer regarding this as prices do vary depending on the type of work and also the region in which you work. We usually suggest you try contacting other bookkeepers in your area to give you a rough idea of how much you should charge.