Professional Standards committees
Our disciplinary and regulatory committees support the operation of the Professional Standards Department. The department is responsible for developing, maintaining and supporting high standards of practice and professional conduct.
Serving on a Professional Standards’ committee
Each Professional Standards’ (disciplinary or regulatory) committee has an equal or majority number of lay members (someone who is not / never been a member, affiliate or employee of ICAEW or any other accountancy body). This ensures we carry out our role of maintaining the highest professional and ethical standards within the accountancy profession in a proportionate, accountable, consistent, transparent and focused manner.
What do we mean by a lay member?
An individual who is not and never has been a member, affiliate or employee of ICAEW or any other accountancy body. To enhance public confidence in the regulatory process, further relevant restrictions may be appropriate for each committee. Preference is given to individuals who are users of accountancy services.
Recruitment of lay members
You can an express your interest to serve as a lay member on our committees by emailing your CV to email@example.com. We may contact you if a vacancy arises that we think you may wish to apply for or please continue to check this page regularly for specific vacancies.
Recruitment of ICAEW members
We are always keen to hear from ICAEW members with expertise in audit, probate, insolvency, tax and any other relevant areas of practice who would like to serve on our professional conduct and regulatory committees. If you have the experience to help us maintain and support high standards of practice and professional conduct and would like to serve on one of our committees, we’d be delighted to hear from you. Please forward your CV (including your membership number) and an expression of interest for consideration firstname.lastname@example.org.
In order to achieve a clear separation of responsibility for policy making and enforcement, members of the ICAEW's council are not appointed to serve on any of these committees.
Each committee meets between three and twelve times a year. Pre-reading and preparation ahead of each meeting is required. Meetings usually take place either at Chartered Accountants’ Hall, London or virtually. Travel expenses to and from meetings are reimbursed for all committee members.
Appointments of chairs and members of the Professional Standards Committees are dealt with by the Regulatory & Conduct Appointments Committee.
ICAEW, the Institute of Chartered Accountants in Scotland (ICAS) and the Institute of Chartered Accountants in Ireland (ICAI) operate a compensation scheme for members of the public who have incurred a financial loss as a result of investment advice given by a firm of chartered accountants which, at the time the advice was given, was authorised or licensed to give such advice by one of the three institutes.
The Chartered Accountants Compensation Scheme Committee administers and manages the scheme. It also considers claims arising from investment business conducted by authorised/licensed firm under the investment business rulebooks.
Appointment and tenure of office
Members are usually appointed to each committee for a three-year term. Reappointment can be made at the end of the first term for another three years, subject to consistently high performance and the needs of ICAEW. In exceptional circumstances, a member’s appointment may be extended for a third term. Each reappointment will be considered, it is not automatic.
We pay non-ICAEW members (lay members) an allowance of £350 for attendance at committee meetings and for each day of a hearing or committee meeting. This includes full hearings or meetings which members attend using teleconferencing facilities.
Generally, ICAEW members are not paid an allowance for attendance at committee meetings or hearings, or for time spent on other committee work.
All committee members are eligible to claim expenses, at rates set centrally, for travel and subsistence costs necessarily incurred on ICAEW business. They will be reimbursed directly and must make their own arrangements for any payment of tax or National Insurance contributions. Remuneration and expenses are subject to periodic review.
We will provide appropriate training. Each successful candidate must attend an induction and the annual committee training day on dates to be arranged, as soon as possible after appointment. The appointee will be invited to observe a committee meeting before taking up his/her duties as a committee member.
Committee members are expected to demonstrate high standards of corporate and personal conduct. The successful candidates will be asked to subscribe to a Code of Conduct and the standards of probity required by public appointees.
Committee members are expected to fulfil their duties towards ICAEW in accordance with the following principles, which are based on the Royal Charter and the ICAEW Code of Ethics.
Diversity and equality of opportunity
At ICAEW, we are committed to diversity. We believe the profession, and our own organisation, does best when it reflects the society we serve. We value and promote diversity and are committed to equality of opportunity for all appointments made on merit. We positively encourage application from people from all sections of the community, from all backgrounds and with a broad range of experience.
We are committed to the principles of equality, diversity and inclusiveness and we are determined to ensure that the decision-making committees reflect that commitment.