Becoming a member of the ICAEW Regulatory Board
What the role involves, what we look for in candidates and how to apply.
The IRB is responsible for the regulatory and disciplinary functions of ICAEW. The membership of IRB, which includes Lay and Accountant members, reflects the depth of experience and breadth of representation needed to carry out the responsibilities of the board.
The IRB maintains a level of independence in decision making with regard to the objectives of the profession, as set out in ICAEW’s Royal Charter, subject to a primary consideration of the public interest. Members of the board have a contractual obligation to fulfil their role on the board.
The IRB is currently looking to appoint two ICAEW members to join the board and welcomes interest from all streams of accountancy. A key criteria is the ability to commit the time needed to attend IRB meetings and fulfil the commitments needed by the role.
This is an unremunerated role, but expenses are reimbursed in line with ICAEW Policy. Members of the IRB benefit from training and development opportunities and are eligible to apply for appointment as Vice Chair, when the opportunity arises.
Purpose of the role
To participate in discussions to help promote sound governance and the strategic direction of ICAEW’s Professional Standards Department (PSD).
- As part of the board, work closely and effectively with the Executive Director and his senior team, providing support and constructive challenge.
- To help evaluate and approve the Executive Director’s strategic proposals and KPIs set out in the Professional Standards operational plan and budget and to review and monitor progress.
- To help develop and approve policy and regulations in the Professional Standards area.
- Must be a current ICAEW member.
- Must not be currently employed by ICAEW or be a current member of any ICAEW committee.
- Must not be a member of ICAEW Council since December 2018.
- Is not currently and never has been an authorised person for reserved legal activities1.
- Must be able to manage and use technology as the primary mode of communication and as a means for reviewing documentation2.
- Ability to assess evidence and good analytical skills to make decisions.
1 Definition of Lay as set out in paragraph 2(4) of Schedule 1 of the Legal Services Act 2007. As the IRB also has a role in areas of reserved legal services, the applicant should meet the requirements of this definition.
2 Competence and comfort with using technology is essential to the role, as the board supports paperless operations. Meeting packs are issued electronically via a secure platform. Members are provided with training, where needed.
As the board already has significant audit experience, new members with experience in the area of insolvency, investment business or professional indemnity insurance would be very welcome, but this is not an essential requirement.
- The ability to demonstrate strategic vision, insight and sound judgement.
- Able to commit the time to attend meetings and prepare for meetings.
- Able to work collaboratively, offering constructive challenge and advice.
- Experience of regulation, standard setting and/or disciplinary processes.
- IRB meets up to six times a year, normally in London and usually from 10:00 a.m. – 2:00 p.m.
- Members are also required to attend relevant training sessions and possibly an annual residential ‘away day’. The IRB also operates via sub groups for specific projects.
- All IRB members are expected to participate in the quality assurance of the Professional Standards committees which will involve attendance at other committee meetings or tribunal hearings.
Term of appointment
A first term of three years from January 2020 – January 2023, with the potential of reappointment for up to a further three years (maximum term six years).
Important dates and information
Shortlisted candidates will be informed by email by 26 October 2019.
Interviews with shortlisted candidates will be held on 06 November 2019
IRB Meeting dates in 2020 are:
- 12 February 2020
- 23 April 2020
- 17 June 2020
- 4 August 2020
- 6 October 2020
- 8 December 2020
How to apply
Completed forms should be submitted by email to firstname.lastname@example.org.
More information on the IRB is available in the 2018 Annual Report.
Interviews will be held at Chartered Accountants Hall, One Moorgate Place, London EC2R 6EA.
Candidates successful in the interview may be required to provide up to two references and appointment will be confirmed subject to successful reference checks.