Regulatory & Conduct Appointments Committee

The Regulatory & Conduct Appointments Committee (RACAC) is responsible, under powers delegated to it by the ICAEW Regulation & Conduct Board (IRCB), for dealing with all matters relating to the appointment, performance evaluations and remuneration of chairs and members of the IRCB and the regulatory and disciplinary committees and Reviewers of Complaints. The RACAC reports to the IRCB on its activities but is independent of the IRCB.

The RACAC comprises six members as follows:

• The Chair
• Chair of the IRCB
• Alternate Chair of the IRCB
• A lay member
• Two Chartered Accountant members of ICAEW

The Chair of the RACAC is independent of ICAEW and lay for all matters including legal services.

The RACAC has the duty and responsibility generally to ensure the IRCB and the regulatory and disciplinary committees have good quality members (and good quality chairs) and that plans are in place to fill positions becoming vacant on the IRCB and regulatory and disciplinary committees in the future.

The RACAC has responsibility for:

• The appointment of a new IRCB Chair, a new Alternate IRCB Chair, a new Deputy Chair to the IRCB and new members of the IRCB.
• Decisions on the renewal of the term of appointment of the IRCB Chair Alternate Chair, Deputy Chair and other IRCB members.
• Performance appraisal of the IRCB Chair, Alternate IRCB Chair and other members of the IRCB.

The RACAC has responsibility in respect of the regulatory and disciplinary committees for:

• The appointment of new Chairs and members to the regulatory and disciplinary committees.
• Decisions on the renewal of the terms of appointments of Chairs and members of the regulatory and disciplinary committees.
• Performance appraisal of the Chairs of the regulatory and disciplinary committees.
• Reviewing the annual performance appraisals of the members of the regulatory and disciplinary committees carried out by the Chairs of the regulatory and disciplinary committees.

The RACAC also has responsibility in respect of:

• The Reviewers of Complaints for appointing and renewing the terms of the Reviewers of Complaints.
• Determining and reviewing policies of remuneration and setting and reviewing the remuneration paid to members of the IRCB and the regulatory and disciplinary committees and the Reviewers of Complaints.
• Policies around conduct and independence.

• Accountants and diversity: a regulatory priority