ICAEW.com works better with JavaScript enabled.

Regulation and Conduct News October 2025

This month, we share the latest disciplinary cases to help you avoid common pitfalls, highlight regional screenings of Crossing the Line, and remind you to register for webinars covering CPD monitoring insights, audit independence principles, and AML supervision findings. Plus, we outline key updates to PCRT and Legal Services Regulations, publish the latest probate diversity data, and provide interim guidance for insolvency practitioners following recent regulatory changes.

Contents
Back to top

Key reminders and updates

Disciplinary update: September 2025
  • Newsletter
Take note of the latest disciplinary cases to ensure you or your firm are not making similar mistakes.
Join one of our committees
  • Regulations

We’re looking for new members to join our Legal Services and Audit Registration Committees. Expand your portfolio and apply by 17 October.

Look out for 2026 fee renewal notices
  • No content type

2026 notices will be emailed throughout November. For convenient payment, set up a Direct Debit now by completing this mandate and email it to creditcontrol-psd@icaew.com.

Updated version of PCRT to apply from January 2026
  • Article
Professional Conduct in Relation to Taxation (PCRT) is being updated with effect from 1 January 2026 to ensure it is consistent with international standards. This includes new paragraphs on dealing with third parties and disagreements with clients.
See more Regulatory and Conduct news

CPD opportunities

Image of laptop phone and cup of coffee viewed from above
CPD monitoring insights webinar – 23 October
  • Webinar

Key findings from the first year of CPD monitoring under the revised ICAEW CPD Regulations.

Light bulb against a grey background
Audit monitoring insights – ethical standard – 13 November
  • Webinar

Back-to-basics reminders about routine auditor independence threats and safeguards, including application of Provisions Available for Audits of Small Entities.

Two people smiling at the camera on a grey background
2025 AML reports and results webinar – 12 November
  • Webinar

Our AML supervisory team discuss the latest monitoring review results and this year’s thematic review on suspicious activity reports.

View of a football pitch from above
UK regional screenings of Crossing the Line - throughout October
  • Webinar

Join us at one of our fully facilitated UK screenings of our new training film, Crossing the Line, a crucial resource for auditors.

Audit

ICAEW response to the FRC Discussion Paper on the Future of Audit Supervision
  • ICAEW consultation and response

ICAEW welcomes the proposals within the FRC Discussion Paper on the Future of Audit Supervision. In particular, the intention that the revised approach will provide proportionality in audit supervision, as well as consistency across the audit market.

Sole practice auditors – have you appointed an alternate?
  • No content type

An important change was made to the UK Audit Regulations on 1 June 2025 which requires sole practice auditors to appoint an alternate. If you are a sole practice auditor, you have until 1 December 2025 to appoint your alternate. Complete the form to notify us about your alternate’s details. 

ISQM1 webinar highlights
  • Article

Read the highlights from our recent audit webinar on ISQM 1 where our audit team shared key observations from recent ISQM 1 focused visits. They highlighted examples of good practice and areas where firms have faced challenges.

See more audit news

Anti-Money Laundering (AML)

New sanctions guidance and tools
  • Article
The government has made improvements to its guidance and launched new sanctions pages on GOV.UK.
The latest UKFIU podcast (episode 24) is now available
  • No content type

This episode discusses Illicit finance in Organised Immigration Crime, with panellists EJ Turner (RET - UKFIU), Rich Ferrell (OIC Threat Leadership) and Scott Griffin (NECC).

AASG Risk Outlook - updated September 2025
  • No content type

The AASG Risk Outlook has been updated to reflect the National Risk Assessment 2025. The Risk Outlook sets out the key AML risks and red-flag indicators relevant to the accountancy sector.

See more AML news

Probate

Probate diversity data results
  • No content type

Results from our fifth Probate Diversity Survey track progress, highlight areas where improvement is needed, and provide a benchmark for firms to reflect on.

Updated ICAEW Legal Services Regulations
  • No content type

The updated Legal Services Regulations came into effect on the 1 October to reflect changes in line with the results from the consultation on the administration of oaths and complaints handling. Access the regulations to ensure your policies and processes are in keeping with the new requirements.

New complaints handling and reporting requirements
  • No content type

Read a summary of the new requirements and check what information needs to be reported to ICAEW via the annual return.

Administration of oaths
  • No content type

ICAEW-accredited probate firms are now authorised to administer oaths. Access resources to help you offer this new service.

See more Probate news

Insolvency

Behind closed books: AML in insolvency
  • Article
Insolvency services are designated a high risk sector for money laundering. Yet, there has been surprisingly little research into the specific risks and realities facing insolvency practitioners. We look at ongoing work by researchers at the University of Leeds, in collaboration with key stakeholders, to address this gap and identify the sector’s anti-money laundering priorities.
Interim guidance on the handling of car finance claims
  • No content type

Following the Supreme Court judgment in the case of Hopcraft and another v Close Brothers Limited and the linked cases, the FCA plans to consult on a scheme to compensate motor finance customers. Given the uncertainty of scope and to support you in the meantime, the recognised professional bodies (RPBs) have issued interim guidance.

COVID repayment scheme
  • No content type

A new voluntary repayment scheme, launched on 12 September 2025, lets COVID scheme recipients repay funds they weren’t entitled to. However, repayments don’t protect directors from enforcement, and insolvency practitioners must still report misconduct and suspected fraud.

See more Insolvency news