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ICAEW Regulatory and Conduct Annual Report 2021-2022

Upholding the highest standards

Our role as an improvement regulator is to strengthen trust in the work of ICAEW Chartered Accountants and firms and to protect the public.

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Full report

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IRB Governance Update

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PSD Operational Report

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We enable, evaluate and enforce to try to ensure to the highest standards in the profession
Philip Nicol-Gent

ICAEW Regulatory Board Chair’s Foreword

“I am delighted to present my first annual report as lay chair of the ICAEW Regulatory Board.” Philip Nicol-Gent
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OUR HIGHLIGHTS

  • Submitted detailed responses to important government consultations on the future regulatory framework for audit, insolvency, and accountancy.

  • Positive inspection reports from all ICAEW’s current oversight regulators.

  • Significant progress to launch a new disciplinary framework with positive responses received to the public consultation.

  • Launch of ICAEW’s first anti-money laundering film drama, All Too Familiar, a joint venture with HMRC, raising awareness of the risk of ICAEW members/firms becoming inadvertent professional enablers of money laundering (March 2022).

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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The 3Es chart
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Oversight of ICAEW’s regulatory and disciplinary functions

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Professional Standards Department Finances 2021

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ICAEW’s regulatory and conduct roles

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