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Live webinar: Legal Services Regulatory Update
On 12 September, join this free, live webinar: Legal Services Regulatory Update, when you’ll hear from a range of speakers who will inform you about the latest common issues we are seeing on quality assurance monitoring reviews, a number of regulatory changes that have taken place and a summary of the 2023 Probate Diversity Survey results.
Probate News, Issue 22
In this issue, access our updated engagement letter helpsheet, see what's changed in the Legal Services Regulations, respond to our consultation on proposed probate fees for 2024 and read our review of the Mercia training course.
Mercia legal services training provider review
Accountants seeking to become authorised individuals for probate must demonstrate that they are appropriately qualified. One way that they can do this is to complete the Mercia-provided course for probate, which covers the ICAEW syllabus. As Mercia has been the main provider of probate training for ICAEW authorised individuals since 2014, ICAEW has undertaken a review of Mercia’s performance as a training provider. The results of this review are summarised below.
Live webinar: CPD is changing, is your firm ready?
In this free, live webinar, we’ll take you through the essential key steps to prepare your firm for the upcoming changes.
HMCTS update on delays in processing probate applications
HM Courts and Tribunals Service (HMCTS) acknowledges that there continue to be delays in the processing of probate applications.
2024 probate fees consultation
As an approved regulator and licensing authority for probate services, our activities are guided by and support the Legal Services Board's strategic themes: fairer outcomes, stronger confidence and better services, to strengthen trust and protect the public by enabling, evaluating and enforcing the highest standards in the profession.
Pre Pack Pool annual review published
ICAEW licensed insolvency practitioners may be interested to read Pre Pack Pool’s 2022 review.
Professional Standards update June 2023
This month, we highlight the extension of the Duty to Report Misconduct requirements to include firms, affiliates and other relevant persons. New resources include an AMLbites video on the topic of risks and red flags and guidance on the top 5 regulatory breaches by DPB Investment Business licenced firms.
DPB Update Issue 15 – June 2023
See what DPB monitoring reviews in 2022 revealed and what’s changed in the DPB (Investment Business) Handbook. Find out about upcoming changes to CPD and access other resources and updates from the Professional Standards Department.
Disciplinary update: June 2023
Take note of the latest disciplinary cases to ensure you or your firm are not making similar mistakes.
A serious business: responding to follow-up actions
Most monitoring visits by ICAEW’s Quality Assurance Department (QAD) conclude without the need for follow-up action. But in some cases, reviewers identify significant issues that require further action. What should you do if your firm finds itself in this position, and how can you help the process go smoothly?
Building an intelligence picture
Insolvency practitioners (IPs) play a key role in identifying bounce back loan (BBL) fraud and misuse of other COVID support schemes. If you know how to submit a good-quality suspicious activity report (SAR), it helps investigation and enforcement agencies bring criminals to justice. Find out what a good SAR looks like.
ATOL News – June 2023
Welcome to our fourth edition of ATOL News. In this issue, find updates from the Civil Aviation Authority (CAA) on escrow accounts and key resources available to help you comply with ATOL Reporting Accountant (ARA) requirements. Plus, updates from the Professional Standards Department.
Practising certificates
Before you engage in public practice, you need to hold an ICAEW practising certificate (PC) and comply with our Professional Indemnity Insurance and Practice Assurance Regulations. From 1 January 2024 the practising certificate guidelines are changing. Find out who is affected and what is changing.
Face-to-face monitoring: back to business as usual
ICAEW’s Quality Assurance Department (QAD) is resuming its onsite monitoring reviews. From 1 September, it will be back to business as usual but with all the Covid-secure precautions you’d expect to keep everyone healthy and safe.
Guidance on your duty to report misconduct
We expect ICAEW Chartered Accountants to maintain the highest standards of practice and conduct. All ICAEW members, firms, affiliates and 'relevant persons' have a duty to report any event which may indicate that they and/or another member, firm affiliate or 'relevant person' may be liable to disciplinary action by the ICAEW Conduct Department, regardless of the type of organisation you or they work for.
Legal Services Regulations and Legal Services Compensation Scheme Regulations
Firms accredited for probate by ICAEW are required to comply with these regulations.
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Useful links
Please make use of the following resources to ensure you are up-to-date with the latest regulatory information and news: