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ICAEW Regulatory and Conduct Annual Report 2023-2024

Strengthening trust

Our role as an improvement regulator is to act in the public interest and to strengthen consumer confidence and trust. We do this by enabling, evaluating and enforcing the high standards expected of ICAEW Chartered Accountants and those we regulate.

Full report

Download the full Regulatory and Conduct Report 2023–2024

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Operational Report

Download our operational report, framed by the 3Es: Enable, Evaluate and Enforce.

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Accountability Report

Read the key work areas where the ICAEW Regulatory Board (IRB) provided direction and oversight during 2023.

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Parjinder Basra, Acting Chair, ICAEW Regulatory Board

IRB Acting Chair's Foreword

"In the spirit of continuous improvement, I am pleased with the changes we have made and the improvements we have implemented during the year."

Parjinder Basra, Acting Chair, ICAEW Regulatory Board
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Duncan Wiggetts, Chief Officer, Professional Standards Department

PSD Chief Officer’s Foreword

“2023 has seen the implementation of the biggest changes in ICAEW’s CPD Regulations for decades, the conducting of three consultations for proposed changes to important regulations and the submission of a response to a very important consultation on the future of AML supervision.”

Duncan Wiggetts , Chief Officer, Professional Standards Department
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KEY STATISTICS

1,111 

regulatory applications received** 

805 

licensed insolvency practitioners* 

1,672 

firms authorised to provide investment business advice* 

2,743 

monitoring reviews carried out** 

953 

new complaint files opened** 

1,089 

investigations completed** 
* as at 31 December 2023  
** for the whole of 2023 

2,137 

firms registered for statutory audit** 

357 

firms accredited for probate services* 

c 10,500 

firms supervised for compliance with AML regulations* 

96% 

satisfaction with the management of our monitoring process 

197,669 

social media impressions** 

457,777 

unique website visits** 
Our role is to act in the public interest and to strengthen consumer confidence and trust

OUR STRATEGY

ICAEW’s regulatory and conduct strategy

ICAEW’s regulatory and conduct responsibilities are delivered by the Professional Standards Department (PSD). Our role is to strengthen trust and protect the public by following the 3Es: Enable, Evaluate and Enforce.

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Oversight of ICAEW’s regulatory and conduct functions

Download the oversight report.

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Finances

Download the Finances Report 2023.

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ICAEW’s regulatory and conduct roles

Read more about ICAEW’s regulatory work.

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