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Ethics helpsheets

Helpsheets prepared by ICAEW Technical Advisory Service to assist you in your day-to-day work. We offer practical advice, respond to frequently asked questions and highlight the issues you may need to consider.
Contents

Browse more helpsheets and guidance by topic. If you cannot find the answer to your specific question, please contact the Technical Advisory helpline on +44 (0)1908 248 250.

B

Exclusive Bribery Act 2010: Practical summary
  • Helpsheets and support
  • 07 Aug 2019
Find out how the Bribery Act could affect your organisation and avoid potentially costly problems. This helpsheet, prepared by ICAEW Ethics Advisory Service, offers a summary of the offences, penalties, Ministry of Justice guidance and procedures you should implement.

C

Exclusive Can I undertake an independent examination of a charity?
  • Helpsheets and support
  • 09 Jul 2021
Helpsheet issued to help members who are approached by charities asking them to undertake independent examinations. It explores some of the factors to consider before accepting such an appointment.
Exclusive Choosing your alternate
  • Helpsheets and support
  • 01 Sep 2015
I have recently set up my own practice as a sole practitioner and registered auditor. I am appointing an alternate. Does the alternate also need to be a registered auditor?
Exclusive Covered person
  • Helpsheets and support
  • 03 Feb 2020
Helpsheet explaining who is included in the definition of covered person, according to the FRC Ethical Standard (2016).
Exclusive COVID-19 - Ethical issues for members in business
  • Helpsheets and support
  • 21 Dec 2020
Technical helpsheet issued to help ICAEW business members to navigate some of the ethical issues that may arise during the COVID-19 pandemic.
Exclusive COVID-19 - Ethical issues for members in practice
  • Helpsheets and support
  • 21 Dec 2020
Technical helpsheet issued to help ICAEW business members to navigate some of the ethical issues that may arise during the COVID-19 pandemic.

D

Exclusive Disclosure of confidential information (for members in business)
  • Helpsheets and support
  • 19 Oct 2021
Technical helpsheet issued to help ICAEW members in business consider confidentiality requirements in the context of disclosure of confidential information.
Exclusive Disclosure of confidential information (for members in practice)
  • Helpsheets and support
  • 20 Oct 2021
Technical helpsheet issued to help ICAEW members in practice consider confidentiality requirements in the context of disclosure of confidential information.
Exclusive Disclosure of confidential Information to insolvency practitioners
  • Helpsheets and support
  • 18 Oct 2021
Technical helpsheet issued to help ICAEW members consider confidentiality requirements in the context of disclosure of confidential information to insolvency practitioners or the Insolvency Service.
Exclusive Disclosure of confidential information to the police and other enforcement agencies
  • Helpsheets and support
  • 21 Oct 2021
Technical helpsheet issued to help ICAEW members consider confidentiality requirements in the context of disclosure of confidential information to the police and other enforcement agencies such as HMRC and the National Crime Agency.
Exclusive Document retention
  • Helpsheets and support
  • 06 Jan 2021
This helpsheet highlights key considerations relating to document retention for accountants.
Exclusive Duty to report to the charity regulator(s)
  • Helpsheets and support
  • 07 Jan 2021
Technical helpsheet issued to highlight the circumstances in which charity independent examiners, auditors and trustees have a duty to report to the charity regulator(s).

E

Exclusive Electronic client due diligence
  • Helpsheets and support
  • 04 Jan 2021
Technical helpsheet which aims to help ICAEW members carry out electronic client due diligence.
Exclusive Ensuring objectivity
  • Helpsheets and support
  • 01 Jan 2020
Technical helpsheet issued to help ICAEW members to consider their objectivity when undertaking a non-assurance engagement, in compliance with the ICAEW code of ethics.
Exclusive Ethical considerations for probate practitioners
  • Helpsheets and support
  • 24 Jan 2020
Technical helpsheet outlining ethical considerations for members with an ICAEW probate licence acting in a professional capacity as a probate practitioner.
Exclusive Ethical problems - framework for resolution
  • Helpsheets and support
  • 01 Jan 2020
A Decision Tree to assist members to resolve ethical issues as they arise.
Exclusive Exercising liens
  • Helpsheets and support
  • 07 Dec 2021
Technical helpsheet issued to help ICAEW members to identify circumstances when it may be appropriate to exercise a lien in respect of a client’s documents.

F

Exclusive Fee dependency limits
  • Helpsheets and support
  • 07 Dec 2021
Technical helpsheet on limits set by the FRC Ethical Standard on the proportion of total fee income that can be earned from an audit client – often referred to as ‘fee dependence’
Exclusive Fee information
  • Helpsheets and support
  • 01 Jan 2020
Technical helpsheet issued to help ICAEW members understand what information they need to provide to (potential) clients about fees and offers practical suggestions for dealing with a request for fee breakdown information.

G

Exclusive Gifts and hospitality
  • Helpsheets and support
  • 21 Jan 2020
Technical helpsheet covering the rules on when it is appropriate to accept gifts, favours or hospitality from an audit client.

H

Exclusive Haven't issued an engagement letter?
  • Helpsheets and support
  • 01 Jan 2020
Technical helpsheet providing guidance for members in practice who choose not to issue engagement letters for non-regulated work.

I

Exclusive Information barriers (Chinese walls) for smaller practices
  • Helpsheets and support
  • 24 Jan 2020
Technical helpsheet issued to provide advice for ICAEW members on implementing effective information barriers (Chinese walls) in smaller practices to reduce actual and perceived threats to independence.
Exclusive Initial consultations
  • Helpsheets and support
  • 07 Jan 2021
Technical helpsheet to help ICAEW members consider whether they can offer potential new clients initial consultations, whether they can charge for them, and other considerations.
Exclusive Introductions to financial advisers
  • Helpsheets and support
  • 19 Feb 2020
Helpsheet explaining regulations surrounding making introductions to financial advisers and the scope of the Financial Services and Markets Act 2000.

M

Exclusive Management role
  • Helpsheets and support
  • 21 Jan 2020
Technical helpsheet explaining what is meant by ‘playing any part in management or decision making’ for the purposes of the FRC Ethical Standard.
Exclusive Marketing
  • Helpsheets and support
  • 09 Jul 2021
Technical helpsheet has been issued to outline the key principles governing the marketing of practice activities.

N

Exclusive Non-audit services - actuarial valuation
  • Helpsheets and support
  • 11 Mar 2020
Technical helpsheet issued to help ICAEW members understand whether they are able to provide actuarial valuation services to entities they audit.
Exclusive Non-audit services - board meetings
  • Helpsheets and support
  • 01 Jan 2020
Helpsheet explaining whether an auditor can attend board meetings of a client company, in accordance with the guidance on the provision of non-audit services to audit clients given in the FRC Ethical Standard (2016).
Exclusive Non-audit services - tax advocacy
  • Helpsheets and support
  • 01 Jan 2020
Technical helpsheet issued to help ICAEW members understand what constitutes tax advocacy services when providing non-audit services to entities they audit.

O

Exclusive Online reviews
  • Helpsheets and support
  • 01 Jan 2020
Technical helpsheet issued to help offer members practical tips on how to respond to online customer reviews about their practice (both positive and negative).

P

Exclusive Partner definition
  • Helpsheets and support
  • 01 Jan 2020
Technical helpsheet issued to help ICAEW members interpret the definition of partner in the FRC Ethical Standard.
Exclusive Payments from a client’s own account
  • Helpsheets and support
  • 01 Jan 2020
Technical helpsheet providing guidance for members in practice who make payments from a clients own account.
Exclusive Persons closely associated
  • Helpsheets and support
  • 03 Feb 2020
Technical helpsheet explaining who would be considered to be a relative or member of a household, for the purposes of the FRC Ethical Standard (2016).

R

Exclusive Resigning close to tax filing deadline
  • Helpsheets and support
  • 23 Dec 2020
Technical helpsheet to help ICAEW members to decide whether or not it is appropriate to resign a tax appointment close to the submission deadline where the client has not been forthcoming with the required information.
Exclusive Rotation of audit partners and staff
  • Helpsheets and support
  • 13 Jan 2022
Technical helpsheet issued to help ICAEW members to identify the requirements for rotation of audit partners and staff involved in audits within scope of the FRC Ethical Standard.

S

Exclusive Should I continue to act for clients unable to pay my fees?
  • Helpsheets and support
  • 24 Jan 2020
Technical helpsheet exploring some of the issues and considerations in the event that a client is unable to pay a firm’s fees.

T

Exclusive The ethics of a Chartered Accountant in business
  • Helpsheets and support
  • 01 Jan 2020
Technical helpsheet issued to highlight key ethical responsibilities under the ICAEW Code of Ethics.
Exclusive Trustee of trust with shares in an audit client
  • Helpsheets and support
  • 11 Mar 2020
Technical helpsheet issued to help members to determine how relationships can impact audit independence, especially in regard to whether a firm can continue to act if a partner in the firm is a trustee of a trust that holds shares in an audit client.

U

Exclusive Use of 'chartered accountant'
  • Helpsheets and support
  • 19 Oct 2021
This helpsheet outlines the conditions and restrictions governing the use of the title ‘chartered accountants’ by firms.
Exclusive Using social media
  • Helpsheets and support
  • 18 Oct 2021
Technical helpsheet highlighting key considerations for individuals and employers when using social media.

W

Exclusive What is an other entity of public interest (OEPI)?
  • Helpsheets and support
  • 12 Nov 2021
Technical helpsheet issued to help ICAEW members to understand what an other entity of public interest (OEPI) is and when restrictions on providing non-audit / additional services to OEPIs apply from.
Exclusive When conducting audit or assurance engagements which independence requirements apply?
  • Helpsheets and support
  • 18 Oct 2021
Technical helpsheet issued to help ICAEW members identify which independence requirements apply to specific audit, review and assurance engagements.
Exclusive Withholding signature or service
  • Helpsheets and support
  • 01 Jan 2020
Helpsheet providing information on the legal and practical considerations when deciding whether to withhold signature or service.
Exclusive Working with vulnerable clients
  • Helpsheets and support
  • 28 Jan 2021
Technical helpsheet issued to help ICAEW members recognise vulnerable clients and offers guidance on how to act in their best interests.
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