A thoughtful business owner reviewing documents, with question marks overlaid to reflect uncertainty about their accountant’s credentials.

Should I be worried if my accountant is unregulated?

Red Flags and Problems
July 01, 2025•1 min read

In the UK, the term “accountant” isn’t legally protected. This means anyone can call themselves an accountant, even without formal qualifications or membership with a professional body.

What Does “Unregulated” Mean?

An unregulated accountant isn’t overseen by a professional organisation like ICAEW, ACCA, or CIMA. They aren’t bound by professional codes, mandatory training, or external complaints procedures.

Is It a Problem?

It depends. For simple tasks like basic bookkeeping, VAT returns, or sole trader accounts, many unregulated accountants do a solid job. However, when it comes to tax advice, statutory accounts, HMRC disputes, or complex business matters, lack of regulation becomes riskier.

Key Risks:

  • No formal complaints procedure

  • No guaranteed professional indemnity insurance

  • No requirement for ongoing training

  • No external body to hold them accountable

How to Protect Yourself:

  • Check for professional indemnity insurance

  • Ask for references

  • Review their experience

  • Get everything in writing (engagement letters, terms, fees)

  • Ask how they keep their knowledge up to date

Are There Good Unregulated Accountants?

Yes — many are experienced and competent. But if your finances are complex, working with a regulated accountant offers extra protection, oversight, and peace of mind.

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