ICAEW.com works better with JavaScript enabled.

ICAEW regulatory round-up: March 2022

Author: ICAEW Insights

Published: 29 Mar 2022

This month we provide guidance in response to the Ukraine crisis, explain how to access our new anti-money laundering training film, All Too Familiar, an update on how our new records management system may affect our usual processing times for regulatory applications and firm structure changes, and how to comply with investment business requirements. We are also seeking your views on proposed changes to ICAEW’s CPD Policy – this consultation is open until 18 May 2022.

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 remember, 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.


Audit guidance in response to the Ukraine crisis

Support and guidance for audit firms in dealing with these exceptional circumstances.

Changes to UK sanctions in response to development in Ukraine

Frequently asked questions about changes to UK sanctions against Russia, in response to the conflict in Ukraine.

CCAB publishes joint guidance on Russia sanctions

The Consultative Committee of Accountancy Bodies has issued joint guidance for the profession on the situation in Ukraine.

Investment business: keeping on the right side of compliance

Complying with the requirements of your firm’s DPB (Investment Business) licence needn’t be onerous if you follow some simple good practices.

New resources

All Too Familiar: we have launched our new training film

UK-based ICAEW supervised firms and insolvency practitioners have been emailed a link to stream All Too Familiar. Please check with your ICAEW regulatory point of contact to access this new resource. All Too Familiar is provided as a free training tool to our firms and insolvency practitioners along with additional resources and learning materials.

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. Global licences to use All Too Familiar outside the UK will be available later in the year.

AMLbites: sanctions guidance

Watch our new video on how sanctions work and how they apply to ICAEW firms.

Watch again: Money laundering risk assessments webinar

How to perform a money laundering risk assessment and when to revisit it.

Regulatory updates

Audit monitoring: telling the story

Our recent audit monitoring report shows most firms reached a good standard. But it also flags areas for improvement and urges firms to tell an audit story.

Disciplinary update: March 2022

Read the update to familiarise yourself with the types of sanctions poor personal or professional conduct can incur.

An update from the ICAEW Regulatory Board (IRB)

The IRB is responsible for overseeing the ICAEW’s regulatory and disciplinary work. 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.


Have your say: consultation on proposed changes to ICAEW’s CPD Policy

We are seeking your views on proposed changes to the ICAEW Continuing Professional Development (CPD) Policy. This consultation is open from Thursday 24 March 2022 to Wednesday 18 May 2022. Read more here.

Keep updated

Be the first to know when articles like this are released by following us on LinkedIn and subscribing to our monthly newsletter, Regulatory & Conduct News.

Recommended content

Podcast icon
Insights Podcast

Hear a panel of guests dissect the latest headlines and provide expert analysis on the top stories from across the world of business, finance and accountancy.

Find out more
A megaphone
Stay up to date

You can receive email update from ICAEW insights either daily, weekly or monthly, subscribe to whichever works for you.

Sign up
Daily summaries
Three yellow pins planted into a surface in a row
News in brief

Read ICAEW's daily summary of accountancy news from across the mainstream media and broader financing sector.

See more