The roles and responsibilities of the ATOL reporting accountant
New factsheet is essential reading for accountants with ATOL-registered businesses.
The Air Travel Organiser’s Licence (ATOL) grants licences for a period of no more than one year and ATOL licence-holders are required to periodically report certain information to the Civil Aviation Authority (CAA).
How often an ATOL licence-holder is required to report to the CAA depends on their Public Revenue Licence Limit and the CAA’s risk assessment of the likelihood of failure. During 2020 many airlines, for example, have requested government funding to assist them during the global pandemic due to non-essential travel being banned. This is likely to mean that the CAA may increase their risk assessment of the likelihood of failure for many ATOL protected travel providers.
ATOL reporting accountants should have regard to the CAA’s Appendix A Requirements for ATOL Reporting Accountants in Official Record Series 3 (ORS 3) (formerly known as Guidance Note 10) which can be downloaded using this link. Appendix A applies to all ATOL reporting from February 2020.
ATOL-registered businesses are required to appoint an ‘ATOL Reporting Accountant’ who performs various procedures to ensure that information submitted to the CAA to support a licence application is accurate.
The roles and responsibilities of the ATOL Reporting Accountant are outlined in our new Technical Factsheet