ACCA CPD Requirements 2026: What Members Need to Know

This option can be available up until bets on the last fixture have been settled once the match has ended.

• Choose an appropriate level of cover: Third-Party Only (TPO), Third-Party Fire and Theft (TPFT), or Comprehensive.
• Consider optional add-ons like breakdown cover, legal expenses insurance, or courtesy car provision.
• Review the policy excess amounts (compulsory and voluntary) and ensure they are affordable.
• Check if the policy includes coverage for personal belongings or audio equipment.

Edit Your Acca is an option for multiple bets with four selections or more.

• Understand the claims process, including how to contact the insurer's emergency helpline.
• Know what is not covered (exclusions) such as wear and tear, mechanical breakdown, or damage from certain events.
• Check if the policy provides a guaranteed hire car following a non-fault accident.
• Be aware of the insurer's approved repairer network and any implications for using it.

Members of ACCA are required to have Professional Indemnity Insurance with the following limit of indemnity:- Fee income less/equal to £200,000 – the greater of two and a half times the firm’s total income for past financial year and 25 times largest fee paid in past financial year, subject to a minimum of £50,000. Fee income £200,000-£700,000 – the greater of the aggregate of £300,000 and the firm’s total income for past financial year and 25 times largest fee paid in past financial year. Fee income over £700,000 – the greater of £1,000,000 and 25 times the largest fee paid in past financial year.

• Ensure the policy meets the minimum requirements for any associated finance or leasing agreement.
• If using the vehicle for ride-sharing or delivery services, obtain specific business use coverage.
• For modified vehicles, seek a specialist policy or endorsement that covers the modifications.
• Verify coverage for driving in other countries if planning a trip abroad (may require a Green Card).

The maximum excess allowed is calculated as the lesser of 2% of the limit of indemnity in respect of each and every claim or £20,000 per principal. The policy cover should be on a ‘civil liability’ wording and the limit should be on an “any one claims basis”. Fidelity guarantee cover must be included under the policy for partners, directors and employees.

• Report any accident or incident to the insurer within the timeframe specified in the policy document.
• Cooperate fully with the insurer's appointed claims handler or loss adjuster during a claim.
• Do not admit liability at the scene of an accident; let the insurers handle the investigation.
• Obtain a police report for any accident involving injury, significant damage, or a hit-and-run.
• Keep detailed records and photographs of damage, the scene, and other parties involved.

The cover must be provided by ‘reputable’ (DTI approved) insurers.

Ethics CPD Requirement

Bettors can combine four players or more in an accumulator. If the early selections win or are ahead in their matches, the bet can be cashed out to ensure a known win or limit the loss. There are many sports well suited to accumulators; cricket, golf, rugby union and league, Gaelic sports and the four big US betting sports are also popular, but in theory pretty much any sport can be bet on as an accumulator. Customers can place accumulators with selections from the same sport, or from a range of sports. The components may vary but the calculation is always the same regardless of the sport or sports involved.

Other professional bodies

All the sports mentioned provide accumulator options, but for the purpose of the various acca insurance offers, this article will focus on football. Bookmakers like accumulators because having multiple selections effectively means there are more opportunities for the bet to lose. Singles therefore offer customers the best value, but accumulators can be an enjoyable way to bet on a series of events, or a way to try and win more profit from outcomes at very short odds. As more options are added to an acca, the probability of the bet winning decreases as the odds increase, as reflecting probability. This is one reason why many bookmakers offer incentives for bettors to place multiple bets with four selections or more.

Trading without professional indemnity insurance

The following are the most common bookmaker accumulator offers: Various firms have occasional or ongoing offers meaning customers can have their stake returned in the form of betting funds or a free bet, if they have one losing selection in accumulators with four or five selections or more. There is usually a qualifying maximum stake which is often £25. The refund is sent bet free bets sign up uk once the bet has been settled. Some bookmakers stipulate it must be used for another accumulator. Betfair’s acca insurance product works in a slightly different way, offering bettors the opportunity to accept lower combined odds for their accumulator, in return for the guarantee of having their stake returned should just one selection lose. Run-off cover following cessation of practice must be maintained for a minimum of 6 years.

What Happens If You Do Not Complete Your ACCA CPD?

a bet requiring five outcomes to happen would be a ‘five-fold’). System bets combine selections in different permutations. An accumulator is a multiple bet with four or more selections. The odds from each selection are multiplied together to decide the overall return and winnings. In theory, a customer can include an unlimited number of selections in an accumulator to win an unlimited amount of money, even from a very small stake.

7.1 The ATT minimum

In practice however, the bookmaker’s maximum payout limit will be reached at some point, so the most common accumulators are four-folds up to sixteen-folds. The longer the combined odds, the less likely the customer is to win. The nature of combined odds means any accumulator, or ‘acca’, with more than 20 legs will usually exceed the limit. Here is a working example of the bet settlement for a £10 accumulator in fractional odds (decimal odds in brackets): To work out the combined odds for this bet, the calculation is: (3.00 x 1.50 x 2.00 x 2.50) - 1 = 21.5 You multiply the odds, and minus one to account for the original stake. However much the stake, it is always represented as one unit.

12.5 Audit committee scrutiny

The potential profit from this bet is therefore as follows: Most accumulator insurance offers are related to football, with a few on horse racing, but customers can place accas with four selections or more across many sports: Bettors can combine four teams or more in an accumulator. The cash out option is usually available on the match result and other markets during the bet. Cashing out an accumulator guarantees a return from an active bet, whether locking in profit or limiting further loss. Bettors can combine four horses or more in an accumulator. The qualifying bets can be win or each-way accumulators, with a minimum number of selections usually required for acca insurance. Understand the requirements for Designated Professional Body, CILEX- and CAA/ATOL-registered accountants To carry out certain regulated activities, accountancy firms may need to purchase additional levels of Professional Indemnity Insurance. Failure to do so could leave you exposed to risk in the event of a mistake, oversight or third-party claim.

Access specialist business services as part of your policy cover

Further details are provided in the Commentary on new PII Requirements (effective 1 September 2023) and in the Appendix there is a useful summary of the changes, including a comparison of the current and new PII requirements. A new Guidance Factsheet on PII Requirements (effective 1 September 2023) is also available in the related downloads section. ACCA partnered with Lockton to deliver a webinar on the new PII regulations on 20 September 2023. The session explained the PII changes and the implications for ACCA practitioners, and the transitional arrangements. View the Webinar on Regulatory changes and the implications for your insurance ACCA's rules are changing in September 2023 ACCA is introducing new professional indemnity insurance (PII) regulations in September 2023.

8.2 Scope of AAT licence

The new PII regulations are the first in a series of planned modernisation and improvements to the Global Practising Regulations and the ACCA Rulebook. However, members and firms will be given a period of time to adjust to the changes and obtain PII cover which is compliant with the new regulations. < Return to SP and BSP bettingReturn to Betting Guides Home > Fixed odds bookmakers offer a wide range of markets, often on 30-40 different sports and occasionally on even more. The most popular sport for betting in the UK is football and most bets are placed on matches in the English Premier League. UK bookmakers express odds in fractions (e.g.

13.3 The boundary case — and the gap

2/1) and bets are settled based on the stake and the odds. A £10 bet at 2/1 returns £30, which is made up of the stake (£10) and profit (£20). In football and other sports, you can back a team, player, runner, participant or outcome as a ‘single’ – one bet that requires one outcome to win. A ‘multiple’ bet involves betting on more than one outcome or ‘leg’ together, and they can be doubles (two legs), trebles (three legs) and accumulators (usually four or more legs. Specifically, these are also called ‘folds’; e.g. Below, we explain the requirements for Designated Professional Body, CILEX- and CAA/ATOL-registered accountants.

Information Category	Specific Details Required	Purpose	Required For
Firm Details	Legal name, trading name, ACCA firm reference number.	Identification and record linkage.	All applications
Financial Information	Previous year's gross fee income, current year's forecast.	To determine required level of PII cover.	All applications
Business Activities	Detailed description of services offered (e.g., audit, tax, consultancy).	Risk assessment by insurer.	All applications
Claims History	Details of any claims, notifications, or circumstances in last 6 years.	Underwriting and premium calculation.	Renewals & new apps

Professional Indemnity Insurance (PII) is compulsory for all ACCA members who hold a practising certificate and engage in public practice and regulated activities in the UK and Ireland. The limit required for PII is dependent on a firm’s relevant total income, details of which can be found in the ACCA PII Regulations.

Provider / Scheme Name	Type of Offering	Key Features / Notes	Contact Method
ACCA Approved Scheme (via Lockton)	Dedicated scheme for members	Competitive rates, ACCA-approved policy wording.	Online portal / dedicated phone line
Marsh Commercial	Broker with ACCA expertise	Tailored quotes for accountancy practices.	Broker website and direct contact
Hiscox	Direct insurer	Specialist in professional and financial risks.	Online quote system
Travelers	Direct insurer	Offers comprehensive practice insurance packages.	Via appointed brokers

Certain regulated work will require higher levels of PII cover arising from legislative requirements, or the requirements set by national bodies or regulators in a particular sector.

Accountants Guide to Professional Indemnity Insurance

Bookmakers enhance the return from a successful accumulator. A qualifying accumulator must have at least four or five selections. The maximum number of legs is usually 16. The winnings are boosted on a sliding scale and the boosts can be from 5 to 100%. Every selection in the accumulator must win in order to activate the bonus.

What is professional indemnity insurance in simple terms?

This offer is similar to the acca boost but includes trebles with three selections. The total return increases as more legs are added in line with an odds scale. The boost is applied to accumulators with up to 16 legs. Some bookmakers impose a maximum stake and a maximum amount that can be won as a result of the bonus in addition to the standard return. Football accumulators are amongst the most popular fixed-odds bets in the UK and Ireland.

9.1 The IFA minimum

Some bookmakers provide an extra incentive on top of the combined odds for winning bets, to customers who place a certain number of bets. The bonus comes in the form of a free bet, the value of which usually depends on the stake or stakes placed. This is a genuine free bet offer but in some cases customers must place another accumulator using the free bet. A relatively new facility is the Edit Your Acca service. Customers can add extra selections to an accumulator, swap them for other selections or take some away, even while some of the events are taking place. ACCA members are able to carry out a limited number of ‘exempt’ regulated activities under the Financial Services and Markets Act 2000, without the need to obtain Financial Conduct Authority (FCA) approval.

Type of Non-Compliance	Potential Disciplinary Action by ACCA	Additional Risks
Practising without valid PII	Suspension or withdrawal of Practising Certificate; fines.	Personal liability for all claims; inability to trade legally.
Inadequate level of cover	Requirement to rectify; possible conditions on certificate.	Gap in coverage leading to significant personal financial loss.
Failure to notify ACCA of policy lapse	Investigatory procedures; reputational damage.	Automatic suspension of public practice rights.
Misrepresentation on application	Severe misconduct finding; expulsion from membership.	Policy could be voided, leaving no cover at all.

These activities include mortgages, long-term care insurance and insurance distribution activities. The level of PII required to undertake these activities varies: For mortgages and long-term care insurance, there is no separate PII requirement and normal rules will apply. However, an ACCA firm wishing to carry on insurance distribution must comply with professional indemnity insurance requirements under the insurance distribution directive (IDD).