As a world-leading improvement regulator, we supervise and monitor over 12,000 ICAEW firms and insolvency practitioners (IPs), holding them, and all ICAEW members and students, to the highest standards of professional competency and conduct.
Monitoring is carried out by the Quality Assurance Department (QAD), which is part of the Professional Standards Department (PSD). PSD is responsible for carrying out ICAEW's regulatory and conduct roles. These roles are separated from ICAEW’s other activities through internal governance so that we can monitor, support or take steps to ensure change if standards are not met. Monitoring reviews ensure and reassure firms/IPs they are meeting the expected requirements of the standards, regulations and the ICAEW Code of Ethics. In turn, we take action where the requirements are not met.
Firms and IPs are asked to complete an anonymous survey after each monitoring review. They are asked to provide feedback on the review process; the quality of interaction and the support provided.
These survey responses are collated and analysed by an independent research agency and we receive a quarterly overview report which we use to support the continuous improvement of our monitoring processes and procedures.
Quality Assurance monitoring
In the first quarter of 2023, we are pleased that feedback on our monitoring processes remains strong. We welcome your input and encourage you to complete the surveys when they are sent to you. So far, we have completed 506 visits. In 2022, we undertook a total of 2,520 visits.
Monitoring visits are an important part of our commitment to fulfil ICAEW’s statutory responsibilities and commitments to oversight regulators.
Archive
View previous survey results.