Why become a Practice Entity Member in Australia?

Practice Entity Membership (PEM) is an optional class of membership available for Australian corporate entities.   

Once your company has been granted PEM, your company may be eligible to access the protection of the Professional Standards Scheme, in the same way as individual Certificate of Public Practice (CPP) holders and Affiliate members may be protected in the event of a claim against them personally.

The Professional Standards Scheme operates as another layer of your risk management safety net. It puts a limit on how much can be awarded for a legal claim against you. The limit is also affected by the size and nature of your client engagements and practice.  

Become a  Practice Entity Member in Australia

The requirements for PEM are the same criteria applied to calling your business a Chartered firm. This means you can use the words “Chartered Accountants” as a description for your business and the CA logo in branding and marketing material.  

How to apply

If your firm is a corporate entity and meets the Chartered Firm requirement, you can apply for PEM by submitting the PEM Application form at the bottom of this page.  There is a one off application fee of $590 per company.

Annual obligations

The Practice Entity Representative (PEM Representative) is responsible for:

• arranging payment of the annual PSC levy invoice of $77
• answer various compliance questions with respect to the PEM. These questions are normally asked as part of the PEM Representative’s individual membership renewal, but where the PEM Representative represents a significant number of PEMs, they are emailed separately a link to complete this for the various PEMs.

Changes to your business

When there is a change in your business structure, principals, representatives or contact details, please let us know.

This ensures appropriate communication reaches you and your PEM fees are calculated correctly.

To update your details, please complete the Change of Details form and return to us.

Become a Practice Entity Member in New Zealand

If your practice is a NZ corporate entity, your firm should already be an approved practice entity.  If you would like to enquire about also becoming a practice entity member, please contact NZ Regulation at [email protected].