Practice Assurance provides members in practice with a framework of quality assurance principles to help them assess and develop their practices, offering practical support and advice.
Outside the UK and the Republic of Ireland, review visits may be waived if local monitoring arrangements are in place.
Practice Assurance standards and guidance
There are four principles-based standards:
- Laws, regulations and professional standards
- Client acceptance and disengagement
- Competence
- Quality control
These set out the quality assurance principles for firms and reviewers to use to assess and improve practices. Accompanying guidance gives examples of acceptable and best practice.
Help with the Practice Assurance standards
For each of the four Practice Assurance Standards, you will find a wealth of information and guidance in the supporting helpsheets including
Guidance to help firms interpret and follow the principles-based standards; it sets out examples of best and acceptable practice.
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Practice Assurance compliance review and checklist (PDF 152KB/25 pages)
Provides a commentary on various issues raised by the standards and a checklist for a systematic, critical review of your firm's compliance with aspects of Practice Assurance; although there is no specific requirement to use a checklist, it will support your compliance review and offer guidance on issues that often cause concern.
The Practice Assurance Committee (PAC)
The PAC provides support and guidance to help practices develop and improve; addressing any areas of concern or potential risk - in a way that is appropriate for the size and nature of your firm.
The Practice Assurance Committee membership (PDF 18KB/1 page) reflects the range of ICAEW member firms and includes sole practitioners, members whose firms do not carry out regulated work and independent lay members.
For information on the committee’s powers, authorities and modus operandi, view its terms of reference (PDF 10KB/2 pages).
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