Please plan ahead: regulatory applications and firm structure changes

ICAEW is implementing a new records management system this spring. As the new system goes live, there may be some disruption to our usual processing times, particularly during March and April. If you or your firm is considering a new regulatory application or change (eg, to the structure of your firm or to your own registration record), please contact our regulatory support team by emailing regulatorysupport@icaew.com at the earliest opportunity.

Please note, you must notify us of any changes to the structure of your firm within 10 business days of the change. More information about maintaining your firm’s record is available here.

Consultation on proposed changes to ICAEW’s disciplinary framework

The ICAEW Regulatory Board (IRB) is consulting on its proposed changes to ICAEW’s disciplinary framework. 

Is trust enough? AML and professional scepticism

ICAEW’s latest educational drama film, All Too Familiar, examines the role of professional scepticism in the fight against economic crime. Produced in collaboration with HMRC, the film looks at a real-life scenario of how firms and individuals may inadvertently become ‘professional enablers’ for criminals involved in everything from financial fraud to modern slavery and terrorism.

COVID-support fraud: staying vigilant on the frontline 

Fraudsters have been targeting COVID-19 business support schemes since their inception. And although the key programmes ended during 2021, the issue has not gone away. For accountancy firms now preparing year-end accounts, staying alert to COVID-related fraud is more important than ever. 

Find out what is discussed at ICAEW Regulatory Board meetings

The ICAEW Regulatory Board aims to be as open and transparent as possible. It is now publishing its meeting minutes and papers for your review.

February disciplinary update

The February disciplinary update is now available, and we recommend reading the update to familiarise yourself with the latest cases we are seeing. 

Recruiting to the IRB

The IRB: building a board for the future

The ICAEW Regulatory Board (IRB) is at a critical point in its development. It recently announced the appointment of a new chair and is currently recruiting new members. We talk to serving board members and the chair of the independent Regulatory and Conduct Appointments Committee about what makes an effective board, why diversity – in all its forms – is so important, and what qualities prospective members could bring to the mix.

An opportunity to contribute

The ICAEW Regulatory Board (IRB) is currently recruiting new members. We talk to existing board members about their background, why they decided to serve, the benefits and challenges, and the need for a blend of skills.

Insolvency webinars

Energy supplier insolvencies

Join Matt Higgins of FRP Advisory on 14 March to explore the issues IPs may have to deal with when appointed over an energy supplier. 

Listen again: dealing with employees, their claims, and interactions with Redundancy Payments Service

Amid a raft of legislative and regulatory matters with which to comply, dealing with employees as a major stakeholder in many insolvencies, is a critical part of an IP’s role.

Updates for auditors

Audit monitoring: telling the story

ICAEW’s audit monitoring report for 2020/21 shows most firms reached a good standard. But it also flags areas for improvement, highlights how root cause analysis can boost performance, and urges firms to tell an audit story.

Be prepared for Quality Management standards

Even the smallest firm needs to ensure it is prepared for compliance with the new standards from December 2022.

Third country audit registration in the EU

Firms need to allow the necessary timescales to register with a particular EU state for the first time, when securing the audit of an entity with an overseas listing. This is to ensure the application goes through in time for the reporting period.

The latest monitoring reports

The latest probate monitoring results

We carried out 40 probate monitoring review visits throughout 2021. Read the results.

ICAEW’s role as an anti-money laundering supervisor

In Q4 2021, we carried out 168 monitoring review visits with ICAEW-supervised AML firms; 27% of these were categorised as high or high-medium risk of being used to enable money laundering. Find out more. 

View from the firms
All firms and insolvency practitioners (IPs) are asked to complete a survey anonymously after their review. We use the findings from these surveys to support the continuous improvement of our monitoring processes and procedures. The feedback is received and compiled by an independent survey company.

The latest feedback from firms/IPs in respect of the conduct of quality assurance reviews carried out in 2021 is now available for you to view.