Glossary

Open Book Accounting

Open book accounting involves companies publishing information whose availability is often restricted on the grounds of commercial sensitivity. FCSA’s approach to auditing Accredited Members involves open book accounting as a copy of the audit file is lodged with HMRC for full transparency. This principle is based on the view that transparency will lead to greater accountability and help the service providers sector and the Government to work closely and openly together in a relationship of mutual benefit.

Other common terms

Contractor Accountant

Contractor accountants are specialists who provide tax advice and accountancy services to independent professionals who work for themselves often via their own limited company. The contractor accountant can provide

FCSA Codes of Compliance

The Freelancer & Contractor Services Association (FCSA) operates best practice codes of compliance designed to ensure that its Accredited Members are providing compliant advice and/or

Employment Agencies & Businesses

Government departments often differentiate between employment agencies and employment businesses. The Department for Business, Energy and Industrial Strategy (BEIS) categorises employment agencies as those companies