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What is the ICB (Institute of Certified Bookkeepers)?
What is the ICB?
When you’re looking for a bookkeeper or looking to become a bookkeeper you will come across various governing bodies. The largest in the UK is the ICB (Institute of Certified Bookkeepers).
If you’re planning on getting bookkeeping support for your business it’s important that you find out if your bookkeeper has a practice licence and who their governing body is. This will show that your bookkeeper is genuine and reputable so you can be happy giving them access to your finances.
Originally founded in the UK 27 years ago, the ICB provides training, education and accreditation to bookkeepers all over the world.
The ICB supports people who want to pursue a career in bookkeeping by offering training and qualifications which gives them the skills and knowledge to perform bookkeeping tasks and run their own bookkeeping practice. Their exams are one of the most difficult, meaning that they test that bookkeepers have the knowledge before starting to work with clients. The support doesn’t stop there though. Once you’re a qualified bookkeeper you must maintain your membership with the ICB to run your bookkeeping practice.This gives businesses who are looking for a bookkeeper confidence that you’re able to take on their bookkeeping with due diligence and sensitivity as to be a member you must adhere to the code of conduct set out by the ICB.
Membership
There are various levels of membership for bookkeepers who complete their ICB qualifications. There are 4 levels of qualifications, with the top being tax related and there is also a payroll exam.
The membership levels are;
Associate - this is recognised by seeing the letters AICB after your bookkeepers name and means they are level 2 qualified- Member - you’ll see MICB after your bookkeeper's name, just like me! This relates to Level 3 qualifications
- Fellow (FICB) means you’ve passed 2 or more Level 4 qualifications
- PM Dip - payroll qualified
Development
Once a year the ICB runs the Bookkeepers’ Summit. It’s a day where bookkeepers can get together in London or virtually to share knowledge and learn more about new legislation and software. As a bookkeeper I ensure that I’m always involved in this as it’s important to invest in self development to continue with best practices. The ICB also runs various webinars throughout the year and I’ve featured on a few of them. They also host the Inspire Tour which is the annual roadshow visiting places all across the country for a day of learning and networking.
Community
There’s a real sense of community within the bookkeeping industry in general, not just for ICB members but of course being part of the ICB opens up more opportunities for you. I’m a member of the ICB advisory board and attend as many of the branch meetings as possible. I’ve forged many good friendships by attending these meetings which means I have the support of other bookkeepers and we know we can rely on each other.
Overall, the Institute of Certified Bookkeepers plays a significant role in promoting professionalism and excellence in the field of bookkeeping. If you are considering a career in bookkeeping or seeking professional development in this field, then definitely choose the ICB for your studies. Likewise if you’re on the lookout for a bookkeeper, look for one who has the skills and knowledge and has those important letters after their name!
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office@ljmbookkeeping.co.uk
01733 602492
LJM Bookkeeping Ltd - Company number: 13698252
Registered Address: Suite 330, 4 Blenheim Court, Peppercorn Close, Peterborough, PE1 2DU
