From 1 April 2016 all ATOL holders are required to use a registered ATOL Reporting Accountant to sign off the Accountants Report.

The CAA (Civil Aviation Authority) has developed the ATOL Reporting Accountants’ scheme to help improve the standard of ATOL reporting and to provide assurance that any financial information submitted to them is accurate. They have designed the scheme to ensure accountants are sufficiently knowledgeable about the travel industry as well as the specific requirements of the ATOL scheme.

Accountants need to complete a course designed by the CAA and ICAEW and apply to the ICAEW for Licensed Practitioner status.

Magma has been given licensed practice status by the ICAEW, in conjunction with the CAA, which means that we can fulfil your obligations to obtain a signed Accountants Report.

If you wish to discuss this, or would like further information then please contact Vicki Craig, Partner on 01788 539000.