Key reminders and updates
Listen again: CPD for firms webinar
Listen to the recording, access the slides and review the updated firm FAQs.
Are you communicating the right information to your clients?
Another common finding from our latest Practice Assurance reviews was that firms had not communicated the basis for their fees or complaints process to their clients in writing. Avoid the common mistakes we are seeing by reading our Practice Assurance monitoring report and the recommended resources it highlights alongside common issues.
Disciplinary update: March 2023
Take note of the latest disciplinary cases to ensure you or your firm are not making similar mistakes.
Keep it professional: navigating the Christmas party season
As the Christmas party season approaches, Nigel Howell, ICAEW’s Head of Investigation, reminds firms and individuals of their obligations under the Disciplinary Bye-laws and Code of Ethics.
Prepare for fee renewals
Is your firm record up to date? A reminder that you must tell us within 10 working days of changes to your firm record.
Apply to serve on an ICAEW regulatory or disciplinary committee
See what expertise we need and what remuneration there is on our regulatory or disciplinary committees. Openings now on the Appeal, Insolvency Licensing and Legal Services Committees.
Audit
Proposed changes to the UK Audit Regulations and Guidance
A new consultation on proposed changes to the UK Audit Regulations and Guidance is now open. The consultation is open from 1 September to 27 October 2023. Firms are encouraged to respond before the 27 October deadline. The new regulations are expected to take effect in early 2024.
FRC auditor education and training survey
The Financial Reporting Council is calling on your input. Please read an open letter from FRC reaching out to all audit firms. The FRC is seeking stakeholder engagement on how to develop the quality of audit education and training by asking audit firms to complete a short survey.
Auditor resignations – Promoting transparency and best practice
ICAEW’s Quality Assurance Department would like to share examples of good practice identified during recent monitoring activity, including the importance of clear and informative cessation statements.
Anti-Money Laundering (AML)
ICAEW warns against government anti-money laundering proposals in consultation response
Proposals to create a single anti-money laundering (AML) regulator could create disruption that would harm the UK financial system, chartered accountancy body and AML supervisor ICAEW has warned.
Webinar: key report findings and support for the MLRO
Join ICAEW’s AML supervision team for this webinar which will take you through the results of two, key ICAEW reports money laundering reporting officers (MLROs) should be aware of.
Insolvency
SIP 3.3 (Scotland) Updated
The main changes relate to the principles, key compliance standards and standards of specific applications being, as far as practicable, aligned with the recently revised SIP 3.1.
Webinar: Learnings from the Worcester Warriors administration
A presentation by Julie Palmer of Begbies Traynor on the administration of WRFC Trading Limited trading as Worcester Warriors, covering the various issues faced by the administrators, including the club being suspended from playing by the Rugby Football Union.
Respond to the Insolvency VAT Helplines Survey
HMRC will review the findings of the survey to assess the VAT Helpline’s effectiveness and consider where we can make improvements. Survey is open until 1 December 2023.
Probate
Legal Services Regulatory Update: webinar resources
This webinar was on 12 September 2023. It took listeners through the 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.
2024 probate fee consultation: feedback and results
Each year, ICAEW asks firms to give their views on its proposed probate registration fee scale and budget. The responses are important and we talk to Matthew Downton, Director PSD Finance, Projects and Operations, about the findings of this year’s consultation.
Response to technology and innovation consultation
Read ICAEW's response to the Legal Services Board's consultation, as mentioned in our recent regulatory update webinar.
