The regulatory role of ICAEW is distinct from its representative role. This section explains how we maintain the highest standards of regulation and access to all the regulations and guidance available for ICAEW members, affiliates, students and regulated firms. You will also find guidance on how your firm can become authorised to undertake audit, investment business and probate work as well as how to become an ICAEW insolvency practitioner.
ICAEW regulation and IRB
Information about regulation at ICAEW and the ICAEW Regulatory Board (IRB)
Regulation has been central to ICAEW’s work for more than 130 years. ICAEW’s regulatory role and professional standards activities are overseen by the ICAEW Regulatory Board (IRB) and are distinct from the ICAEW’s representative role.
Our Practice Assurance scheme provides ICAEW members working in practice with a framework of principles-based quality assurance standards. These resources will help firms develop appropriate procedures and guidance to enable them to comply with the standards.
Insolvency is a regulated profession and insolvency practitioners must meet certain standards. They must comply with the law, statements of insolvency practice (SIPs), the insolvency Code of Ethics and ICAEW’s insolvency regulations. We also issue guidance to assist insolvency practitioners.
ICAEW's application to regulate and license further reserved legal services
We have applied to the Legal Services Board (LSB) to become an approved regulator and licensing authority for the further reserved legal services of: conduct of litigation*; rights of audience*; reserved instrument activities*; notarial services; and administration of oaths.
ICAEW is an approved regulator and licensing authority for probate services. This enables us to accredit firms to offer probate services to their clients. Here we explain the benefits of accreditation and the application process, provide support for accredited firms and also information for consumers including a register of ICAEW accredited for probate firms.
ICAEW is now responsible for the licensing, registering and monitoring of auditors who wish to carry out audits of local public bodies. This page explains what accountancy firms and individuals need to do to become a registered local auditor under the Local Audit and Accountability Act 2014.
ICAEW was incorporated by Royal Charter in 1880 and granted a Supplemental Charter in 1948. This section contains documents relating to ICAEW’s governance, including the Principal Bye-laws that regulate ICAEW’s affairs.
Complaints, disciplinary and fitness processes and regulations
This section sets out the processes and regulations for the investigation of complaints, disciplinary action and appeals. It also sets out the duties of members and firms to report and investigate misconduct, and the process that applies in fitness cases.
ICAEW members are expected to demonstrate the highest standards of professional conduct and to take into consideration the public interest. Ethical behaviour plays a vital role in ensuring public trust in financial reporting and business practices and upholding the reputation of the accountancy profession.
Members are required to supply certain information to the members’ registrar and to pay annual fees and subscriptions. These matters are governed by regulations. There are also regulations relating to ACA students, becoming an FCA or becoming a member through Pathways.
83 of FTSE 100 companies have an ICAEW member on their board and our members work as accountants in businesses across the world. They have to comply with many of the same regulations as members in practice: the duty to report misconduct, the Code of Ethics and CPD regulations. This section also contains advice on responsibilities relating to defaults and unlawful acts encountered in professional work; accountants and legal services; and acting as a trustee or director.