You are using an outdated browser. Upgrade your browser today for a better experience of this site and many others.
+44 (0)20 8861 7575
The Air Travel Organiser’s License (ATOL) Reporting Accountants scheme has been set up in partnership between the Civil Aviation Authority (CAA) and the professional accountancy bodies in order to ensure that there is competent ATOL reporting. In order to produce ATOL reporting in future, accountants will need to be designated ATOL Reporting Accountants (ARA).
The scheme has been designed to ensure that designated accountants have sufficient knowledge about both the industry involved and the specific requirements of ATOL to provide the required level of assurance sought by the CAA.
Lawrence Grant has many years of experience working closely with the travel industry and has built solid connections and a vast pool of experience in this area. Our firm can help to navigate the robust financial compliance regulations that have been put in place by the CAA and ensure that this new system causes minimal disruption for you and your business.
Our expert assistance in this area is being extended to any business that is ATOL accredited and our ATOL team has undertaken the necessary training to be able to offer the help that you need.
Which Professional Accountancy Bodies are Included in the ARA Scheme?
The professional accountancy bodies who have signed the agreement with the CAA are allowed to designate their members to become ARAs. The seven bodies who have signed up to the scheme are the Association of Accounting Technicians, Association of Certified Chartered Accountants, Association of International Accountants, Institute of Chartered Accountants in England and Wales, Institute of Chartered Accountants in Ireland, Institute of Chartered Accountants in Scotland, and the Institute of Financial Accountants.
Does an ARA Need to Perform the Audit of the Financial Statements?
It is not necessarily the case that the person auditing your financial statements will be an ARA but they may well be the same person. An ATOL holder can continue with their current arrangements for auditing their financial statements.
How does an ATOL Holder Know if an Accountant is an ARA?
There is a register held centrally by the CAA and updated regularly which will verify which accountants are designated ARAs, in accordance with the scheme. The up-to-date list can be found on the CAA website.
If you would like to discuss the new requirements from the Civil Aviation Authority in more detail with one of our experts, please take the time to get in touch and we will be happy to do what we can to help. We are available via email at email@example.com or by telephone at +44 (0)20 8861 7575. We are keen to help you move forward on the front foot, so don’t hesitate to contact us.
Great tips and advice you can download
Find out more
As members of GGI, one of the top ten international accounting, consulting and law firm alliances, we are able to deliver the best possible advice on a global scale. Through GGI we have access to experts around the world who are able to give advice on local regulations, compliance and go-to-market strategies.
GGI’s broad international presence opens up a gateway to the global marketplace for both us and our clients. Through our GGI membership we have access to high quality firms in nearly every major financial and commercial centre worldwide. This remarkable facility applies whether you are looking for business opportunities beyond national boundaries, or need international support in addition to services in your home market.
We are here to help and support your success wherever your business takes you.
For more information, visit GGI (www.ggi.com) online.
About GGI -Disclaimer
GGI Geneva Group International (GGI) is a global Alliance of independent professional firms. GGI Geneva Group International AG, a company incorporated in accordance with the laws of Switzerland, operates solely as an administrative resource of the Alliance and therefore provides no legal, audit or other professional services of any type to third parties. Such services are provided solely by GGI member firms in their respective geographic areas. GGI and its member firms are legally distinct and separate entities. These entities are not and shall not be construed to be in the relationship of a parent firm, subsidiary, partner, joint venture, agent or a network. No member firm of GGI has any authority (actual, apparent, implied or otherwise) to obligate or bind GGI or any other GGI member firm in any manner whatsoever, equally, nor does GGI have any such authority to obligate or bind any member firm. All GGI members are independent firms, as such they all render their services entirely on their own account (including benefit and risk), without any involvement of GGI and/or other GGI member firms.