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Members needed for regulatory and disciplinary committee roles

Author: ICAEW Insights

Published: 04 Oct 2022

ICAEW’s regulatory and disciplinary committees and boards make all decisions on regulatory and conduct matters, operating independently from ICAEW staff. Applications must be submitted by 21 and 31 October.

The ICAEW Regulatory Board, which has responsibility to ensure ICAEW’s regulatory and disciplinary work is carried out in the public interest, is looking to appoint an ICAEW Chartered Accountant member to join the IRB. From 1 January 2023, all IRB members will be eligible to receive a fee of £385 per meeting, with pro rata payments for other commitments. Expenses are reimbursed in line with ICAEW policy. The closing date for applications for this role is Friday 21 October 2022. Access the role profile and how to apply.

The regulatory and conduct committees

The committees and boards are made up of ICAEW Chartered Accountants and lay members (an individual who is not and never has been a member, affiliate or employee of ICAEW or any other accountancy body), with a lay chair that has the casting vote. The closing date for applications for the roles below is Monday 31 October 2022.

Probate Committee

The Probate Committee is looking to recruit two accountants and two lay members. The Probate Committee governs the arrangements for ICAEW’s probate regulation. It is responsible for undertaking ICAEW’s responsibilities as an Approved Regulator and Licensing Authority under the Act for the reserved legal activity of probate. 

Disciplinary Committee

The Disciplinary Committee is looking for one accountant member. This committee hears cases referred by the Investigation Committee. It has similar powers to the Investigation Committee and can exclude members from membership or prohibit a firm from using the description ‘Chartered Accountants’.

Appeal Committee

The Appeal Committee is seeking one accountant member. It hears appeals from the Review and Disciplinary Committees. 

Investigation Committee

The Investigation Committee also requires a new accountant member. It considers complaints and, if it decides there is a case, it can take actions such as offering a consent order to settle the matter or refer the matter to the Disciplinary Committee.

Investment Business Committee

The Investment Business Committee is looking for two accountant members. It is responsible for considering and determining applications for a licence under the Financial Services and Markets Act 2000 and any regulatory action required as a result of monitoring visit reports affecting its areas of responsibility.

Insolvency Licensing Committee

The Insolvency Licensing Committee requires one accountant member and one lay member. It ensures that insolvency practitioners licensed by ICAEW are fit and proper persons to act and meet acceptable requirements for education, practical training and experience, and the good reputation of licensed IPs with the public is maintained.

Audit Registration Committee

The Audit Registration Committee is responsible for considering and determining applications for audit registration and any regulatory action required as a result of monitoring visit reports affecting its area of responsibility. It is looking for one accountant member and one lay member.

Practice Assurance Committee

The Practice Assurance Committee, which considers reports following Practice Assurance visits, is seeking one accountant member.

Chartered Accountants Compensation Scheme Board

The Chartered Accountants Compensation Scheme Board is seeking a new chair and two directors. This board administers and manages the compensation scheme operated by ICAEW, the Institute for Chartered Accountants in Scotland (ICAS) and the Institute of Chartered Accountants in Ireland (ICAI) for members of the public who have incurred financial losses 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.

Further information about the vacancies and how to apply and on the work of the committees and boards.

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