ICAEW is supporting the authorities in detecting and deterring all forms of economic crime.As an organisation, we attend the Economic Crime Strategic Board and we support the Economic Crime Plan. We also co-ordinate the AML guidance for the accountancy sector and promote the Government's Flag it Up campaign to our UK members and firms.
At present, anyone can call themselves an accountant
Unlike the term ‘Chartered Accountant’ which is a protected designation, the term ‘accountant’ is not a protected designation – anyone can operate as an accountant. Other professional titles such as ‘solicitor’ or ‘architect’ are protected terms – they can only be legally used by people who are properly qualified, and who are subject to technical, ethical and disciplinary oversight by recognised supervisory bodies. It is inconsistent that this level of assurance does not apply to accountancy. Removing the ability for people to present themselves as accountants is fundamental to reducing the risk of money laundering and the protection of the public.