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What is accountancy and finance work?

Helpsheets and support

Published: 24 Apr 2023 Updated: 03 Aug 2023 Update History

Examples of what is categorised as being "accountancy and finance work" in relation to the revised CPD Regulations, which introduces minimum professional development requirements from 1 November 2023.

Any work that you do that relates to the profession of accountancy is likely to be considered accountancy and finance work.

The scope of such activity is wide and would include work undertaken in practice and outside of practice, such as working in the finance department or the management of a business, charity or public sector organisation.

If you are in any doubt whether your work is accountancy or finance, it is highly likely that it is. 

The services listed below would be considered examples of accountancy or finance work, although please note that this list is not exhaustive.

Accounting and compliance

  • Accounting
  • Bookkeeping work
  • Maintaining client payroll
  • Forensic accounting


  • Preparation or review of management accounts, and statutory financial and non-financial statements/annual reports
  • Non-financial reporting, such as ESG
  • Regulatory reporting

Audit and assurance

  • External audit and assurance services
  • Internal audit of accounting and internal control systems
  • Performance or value for money audits


  • Dealing with personal or business tax returns
  • Providing tax advice
  • Representing a client in a tax situation

Business advice

  • Valuing businesses, shares and related instruments and intangible assets
  • Expert witness services where these are related to accountancy or reserved services
  • Insolvency appointments
  • Corporate finance advice, including debt advisory, growth finance, and reorganisations/restructuring
  • Transaction services, including due diligence
  • Management consulting on accountancy activities
  • Data analytics and management information

Financial and non-financial management

  • Preparation or review of cashflows and budgets
  • Business funding advice
  • Due diligence
  • Preparation or review of business plans
  • Treasury
  • Financial planning and analysis
  • Investor relations
  • Finance systems transformation
  • Private equity, such as investment manager
  • Product control
  • Preparation of non-financial management information, such as carbon emissions

Corporate governance

  • Internal corporate governance
  • Corporate governance advice to organisations

Investment advice

  • Credit related regulated activities under either a designated professional body licence or the FCA regime
  • Investment business advice under either a designated professional body licence or the FCA regime


  • Reserved legal services, such as probate
  • Acting as an administrator of a trust or a will
  • Estate administration
  • Training and coaching accountancy firms and students
  • Compliance services including file reviews supplied to firms of accountants
  • Regulatory role, such as working at a professional body or oversight regulator
  • Accountancy technical role or accountancy professional body role
  • Compliance or risk-management/quality-control role within an accountancy organisation 
  • Consultancy services to accountants and accountancy firms
More information

Find out more about the revised CPD requirements and read definitions of the types of entities, roles and concepts used within the categories.

The changes explainedKey terms and concepts

Are you affected?

Confirm whether you need to comply with the revised CPD Regulations by answering a few simple questions about your work.

Find out more about how ICAEW's CPD Regulations are changing after 1 November 2023
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  • Update History
    03 Aug 2023 (12: 00 AM BST)
    Addition of consultancy services to 'other'.