Glossary

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 supported by the highest level of professional and ethical standards. New applicants for Accredited membership are required to demonstrate how they adhere to FCSA’s Codes of Compliance, to provide the necessary supporting evidence as well as providing certain additional information. The declaration and information provided will be subject to independent testing by regulated accountants and solicitors. Appointed assessors are themselves tested by FCSA to ensure that they are experts with sufficient in-depth knowledge of the sector. FCSA Accredited Members must pass annual testing in order to retain their accredited status.

Other common terms

Limited Company Service

This service (offered to freelancers by FCSA members) covers the primary support services needed to help an individual in business on their own account run

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

Limited Company

A Limited Company must be incorporated at companies house, have its own unique company registration number and is governed by the requirements of the Companies