ICAEW Regulatory Board – vacancies for lay and non lay members
The IRB is looking to appoint an ICAEW member and two lay members to join the board. Closing date for applications is 27 November 2020.
Our role as an improvement regulator
ICAEW’s regulatory and disciplinary roles are separated from ICAEW’s other activities so that we can monitor, support or take steps to ensure change if standards are not met. These roles are carried out by the Professional Standards Department and overseen by the independent ICAEW Regulatory Board (IRB).
The IRB is responsible for the regulatory and disciplinary functions of ICAEW. The public interest is at the forefront of everything that the IRB does. It also has regard to the objectives of the profession, as set out in ICAEW’s Royal Charter.
Successful candidates will have the ability to assess evidence and good analytical skills to make decisions. Experience of regulation, and for lay members, working with the accountancy profession will be beneficial.
The role profile explains what we mean by lay. As the IRB also has a role in areas of reserved legal services and some existing board members are legally qualified, it would be beneficial if applicants are lay for legal services matters.
The board already has significant audit experience amongst its membership. Therefore, new accountant members with experience in other practice areas such as insolvency, investment business, professional indemnity insurance, or general practice, would be very welcome, but this is not an essential requirement. We would also welcome applications from members in small or medium sized practices.
Serving on the IRB
The IRB meets up to six times a year. The IRB also operates via sub-groups for specific projects in which board members may be expected to participate. All IRB members are expected to participate in the quality assurance of the Professional Standards committees which will involve attendance (remote or physical) at other committee meetings or tribunal hearings which could involve up to two days additional time commitment. Members are also required to attend relevant training sessions.
You should expect to commit around 10 days a year to the role.
We are committed to diversity in the Chartered Accountancy profession and at ICAEW. We believe the profession, and our own organisation, does best when it reflects the society we serve.
Lay members receive a meeting fee of £350 per meeting, with pro rata payments for other commitments. Expenses are reimbursed in line with ICAEW policy.
For ICAEW members, the role is unremunerated, but expenses are reimbursed in line with ICAEW policy.