Establishing an audit firm

[kamranACA]

One thing which appeared to me in your question required further clarification.

There is no requirement for becoming FCA to open a firm. ACA can open the firm provided

- he has certificate of practice;
- he can register students in his name, for training only when he completes three years of practice.

However, an ACA becomes FCA after

- ten years from being an ACA, if he is in industry
- five years from being an ACA, if he is in practice

Practice here means that he has obtained certificate of practice and is engaged in it.

Regards,

Kamran.