Membership

Only members of the Institute of Chartered Accountants in England and Wales (including reciprocal members) can join our Company, and given that there are more than 140,000 of them, it will be understood that the status is quite sought after. There are two levels of members – Freeman and Liverymen.

For almost all new members, entry is gained by way of “Redemption”, for which the initial step is via a form, obtainable from the Clerk or an existing Member.

Occasionally however, a Freeman is admitted by “Patrimony”. This is available to a son or a daughter of a Freeman of the Company and of the City of London who is a member of the Institute of Chartered Accountants of England and Wales and who was born when the Freeman parent had already received the Freedom of the City.

Whichever route is taken, the same form is used and the application to become a Freeman is normally supported by one or two Liverymen of the Company, although applications made without a proposer or seconder are considered. The Applicant is then interviewed by two members of the Court before being considered by a ballot taken by members of the Court of Assistants.

Having been elected in the ballot and having paid the ‘fine’ (i.e. the entry fee) and the annual quarterage, one becomes a Freeman of the Company.

Freemen are generally considered for advancement to the Livery of the Company after a couple of years of active membership. However, before asking to be considered, Freeman must first apply for and be granted the Freedom of the City of London. This is done via the Chamberlain’s Court at the City of London Corporation. The process involves the presentation of certain documents at an interview and then culminates in a short, but very enjoyable ceremony on a later time and date, which is agreed at the interview stage.

Whilst there is no maximum to the number of Freemen the Company may have, its Livery is limited by the Court of Aldermen to 350 people. Once they have obtained the Freedom of the City, it is open to any Freeman of the Company to ask the Court to consider their advancement to the Livery, but inevitably there is pressure on places.

Becoming a Liveryman is evidenced by the clothing ceremony, when a member takes the oath and is traditionally ‘clothed’ with the Livery of the Company. He or she is then introduced to the Master, Wardens, and the members of the Court before being welcomed at a Livery dinner.

By happy accident of history, our Company is the only one of the City of London’s over 110 Liveries which is still permitted to wear a Livery uniform at formal events. This is a maroon jacket, in a variety of styles to suit men and women, which all Liverymen are encouraged to wear, most usually these days at black tie events.

In terms of further advancement within the Company, only a Liveryman can become a Court Assistant or vote at the Company’s annual general meeting or vote in the Common Hall of the City of London at Guildhall, where the Lord Mayor and Sheriffs are elected.