Key reminders and updates
Coming soon – Crossing the Line
Currently in production, Crossing the Line, is the fourth instalment in ICAEW’s award-winning training film series that’s set to bring the world of auditing to life.
Disciplinary update: February 2025
Take note of the latest disciplinary cases to ensure you or your firm are not making similar mistakes.
New ICAEW Code of Ethics explained: impact of technology
ICAEW is incorporating revisions in its 2025 Code of Ethics introduced by the International Ethics Standards Board for Accountants. This article covers those relating to the impact of technology on the profession.
Audit
New 2025 Audit Regulations: notification requirements and sole practitioner alternates
- Article
- 02 Apr 2025
2025 changes to Audit Regulations took effect on 1 June. The new regulations introduce a requirement for ICAEW-registered audit firms to notify ICAEW when appointed to certain complex or high-risk audits. There is also a new requirement for sole practice auditors to appoint an alternate. Sole practice auditors will have until the end of a six month transition period to appoint an alternate (ie, until 1st December 2025).
Check and monitor your firm’s audit eligibility
- Helpsheets and support
- 05 Feb 2025
Use this tool to check if your firm is still eligible to carry out audit work following recent Audit Regulations changes on audit firm control. You should also use this tool if you considering making changes to your firm structure.
UK company size thresholds have increased
- Article
- 12 Dec 2024
New regulations increasing company size thresholds and removing certain requirements from the Directors’ Report took effect on 6 April 2025.
Anti-Money Laundering (AML)
ACSP registration is open
- Article
- 10 Apr 2025
Are you a third-party provider planning on carrying out identity verification checks for Companies House on behalf of your clients? Registration to be an authorised company service provider (ACSP) will now open on 18 March 2025 and firms will then be able to voluntarily verify the identity of clients from 8 April. The mandatory verification requirement will take effect in autumn 2025.
HMRC’s risk assessment for trust and company service providers
- Link
- 12 Feb 2025
HMRC published its sectoral AML risk assessment for trust and company service providers, which are at a high risk of money laundering. Firms should use this to help them prepare their own firm-wide risk assessment.
SARs Reporter Booklet January 2025
- Link
- 12 Feb 2025
This booklet contains a sanitised summary of feedback from law enforcement agencies (LEAs) on their use of SARs.
New government guidance on Russian Sanctions Circumvention
- Article
- 31 Jan 2025
The UK Government has published two guidance documents to support UK industry counter and combat current and emerging trends relating to Russian sanctions circumvention.
SARs Reporter Booklet November 2024
- Link
- 12 Feb 2025
This booklet contains a summary of feedback from law enforcement agencies on their use of SARs. The booklet provides a snapshot of some of the examples UKFIU receive highlighting the work of law enforcement agencies in utilising SAR intelligence to initiate investigations and informing existing ones.
Latest SARs in Action issues
Issue 29 examines efforts to combat human trafficking, highlights the Hydroponics Cell’s Amber Alert, recaps the 2024 Global Financial Institutions Partnership Summit, and celebrates the TECAs winners.
Issue 28 focuses on CARIN’s role in asset recovery, the Egmont...
SARs in Action Issue 29
- Link
- 12 Feb 2025
Issue 29 examines efforts to combat human trafficking, highlights the Hydroponics Cell’s Amber Alert, recaps the 2024 Global Financial Institutions Partnership Summit, and celebrates the TECAs winners.
SARs in Action Issue 28
- Link
- 12 Feb 2025
Issue 28 focuses on CARIN’s role in asset recovery, the Egmont Group’s impact on financial intelligence, and collaborative efforts by the National Economic Crime Centre Public Private Partnerships Team.
Probate
Complaints handling in probate-accredited firms: improving consumer trust
ICAEW is consulting on proposals aimed at improving consumer confidence in how probate-accredited firms handle complaints. Rachel Clements, Regulatory Policy Manager at ICAEW, tells us why the changes are necessary and explains what they mean for firms.
2025 Consultation: Proposed changes to the ICAEW Legal Services Regulations
The ICAEW Regulatory Board is consulting on proposed changes to ICAEW’s Legal Services Regulations. These changes incorporate new provisions relating to the reserved legal service of the administration of oaths and requirements relating to first tier complaints introduced by the Legal Services Board (LSB) in May 2024.
Webinar recording: Getting Started with the 2025 Probate Diversity Survey
Access our webinar recording from 5 February 2025. Our Regulatory Policy team shared what you need to do to carry out the 2025 survey. The team explained the process and timeline, how to use the free online survey tool that is being provided via our supply partner The Access Group and any changes for the 2025 survey.
Insolvency
New sanctions reporting obligations for insolvency practitioners
- Article
- 28 Nov 2024
On 14 November 2024, the Sanctions (EU Exit) (Miscellaneous Amendments) (No.2) Regulations 2024 was laid in Parliament. This instrument expands the definition of relevant firms subject to financial sanctions reporting obligations to cover insolvency practitioners (IPs).
Restructuring & Insolvency Community events
- Link
- 12 Feb 2025
Access recordings and book your place on upcoming insolvency events to support you with your CPD requirements.
