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Trust & Ethics

Guidance and resources on key issues, including economic crime, business law, better regulation and ethics. Read through ICAEW’s Code of Ethics and supporting information.

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Key resources

Four columns
Photo from the Global Ethics Day 2025
76 ai
ICAEW's Ethics CPD course is designed to help you apply the Code of Ethics to everyday situations and uphold the highest standards of professional conduct.
Regulation

ICAEW Code of Ethics

ICAEW's Code of Ethics applies to all members, students, affiliates and employees of member firms.
Guidance and the code
Featured

Global Ethics Day

ICAEW celebrates Global Ethics Day each year. The 2025 theme is "Ethics Re-envisioned,” challenging us to think boldly about how we embed ethical principles into the heart of our organisations.
Find out more
Supporting accountants

Ethics and AI

In 2024, ICAEW’s Trust and Ethics Team hosted roundtables on shaping guidance for the accountancy profession on the ethical use of artificial intelligence. Read an overview of the discussions, offering insights into real-life use cases and the risks that must be managed.
Download
Business law

Better Regulation

Drawing on our experience and insights from ICAEW members, our better regulation work contains information on the UK’s regulatory regime and considers how it might be improved.
Find out more
Online training

Ethics CPD course

ICAEW has created a free online ethics course to support members in meeting their changing continuing professional development (CPD) requirements
Find out more

Ethics

Horizon: lessons for software procurement
  • Article
  • 09 Feb 2024
As the issues with the Post Office’s Horizon software make headlines, we look at how buyers must work with vendors during the software procurement process.
Horizon scandal: seven lessons for boards
  • Article
  • 08 Feb 2024
As details continue to emerge about the Post Office’s management of the Horizon project, ICAEW Director, Corporate Governance and Stewardship, Peter van Veen picks out some key learning points.
FRC updates the Ethical Standard for Auditors
  • Article
  • 30 Jan 2024
Regulator says new requirements are proportionate to support confidence in UK corporate reporting and audit, to support UK growth and competitiveness.
Why fighting corruption is key to good governance
  • Article
  • 07 Dec 2023
International Anti-Corruption Day falls on 9 December; this year’s events seek to highlight how anti-corruption efforts contribute to peace, security and development.
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Videos on ethics

The latest ethics related videos, webinars and podcasts from ICAEW. Find expert insight into ethical decision making, speaking up and ethical standards, which will support your professional development.

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The latest ethics related videos, webinars and podcasts from ICAEW. Find expert insight into ethical decision making, speaking up and ethical standards, which will support your professional development.

ICAEW Code of Ethics

ICAEW's Code of Ethics applies to all members, students, affiliates, employees of member firms and, where applicable, member firms, in all of their professional and business activities, whether remunerated or voluntary. The latest edition came into force on 1 July 2025.

About the ICAEW Code of Ethics
  • Regulations
All ICAEW members have a professional duty to comply with the Code of Ethics. They must familiarise themselves thoroughly with the current version of the Code which came into force 1 July 2025. Find out more about the Code and how to use it.
ICAEW Code of Ethics 2025
  • Regulations
  • PDF (3,876kb)
The 2025 edition of the Code comes into force on 1 July 2025. Key changes from the previous edition include: updates relating to professional behaviour; role and mindset; and technology.
Code of ethics - the five fundamental principles
  • Helpsheets and support
All ICAEW Chartered Accountants are bound by ICAEW’s Code of Ethics, which is based on five fundamental principles: integrity, objectivity, professional competence and due care, confidentially and professional behaviour.
Code of Ethics - the conceptual framework
  • Helpsheets and support
All ICAEW Chartered Accountants are bound by ICAEW’s Code of Ethics, which contains the conceptual framework to help practitioners identify, evaluate and address threats to their compliance with the Code and its fundamental principles.
ICAEW Code of Ethics 2025 - changes highlighted
  • Regulations
  • PDF (2,718kb)
This version of the 2025 Code of Ethics highlights in orange key changes in the text from the 2019 edition. This includes provisions which are new, have been deleted or subject to extensive reordering.
The role and mindset expected of professional accountants
  • Helpsheets and support
An overview of the key revisions to the 2025 edition of ICAEW's Code of Ethics which are intended to promote the role and mindset expected of all professional accountants.
More support

Webinar: 2025 Code

On 4 April, ICAEW recorded a webinar outlining the 2025 update to the Code of Ethics and what the changes mean for accountants in practice. It covered:
- the evolving role and mindset expected of professional accountants; and
- new provisions governing the use of technology.

Watch the recording Download slides
Aligning with Global Ethics Day on 18 October, ICAEW is exploring the vital importance of ethics to the accountancy and finance profession. Hear from CFOs and ethics experts on the key issues.

Business law

ICAEW's Business Law function leads ICAEW’s policy work on the UK’s regulatory regime and aspects of regulation including selected areas of company law and provides related resources to members including our briefing on the UK’s regulatory regime and our guide to directors’ duties.

Better Regulation
Drawing on our experience and insights from ICAEW members, our better regulation work contains information on the UK’s regulatory regime and considers how it might be improved.
Pen, notepad and phone
UK company law
Resources include relevant ICAEW technical releases, such as guidance on dividends and distributable profits, and updates on key developments in regulation, prospective legislation and related matters of professional concern to accountants in practice, industry or commerce.
Directors duties
Our guide provides an overview of the key duties and responsibilities of directors, including for transactions between a company and its directors or shareholders (eg dividend payments), responsibilities for financially challenged companies and penalties for breach.
More information

Economic crime

ICAEW Guidance on Sanctions – effective 1 January 2026
  • Regulations
  • 01 Jan 2026
  • PDF (1,351kb)
This guidance takes effect from 1 January 2026 and applies to any matter first considered by the Conduct Committee after that date. That means matters considered on or before 31 December 2025 will continue under the ‘Guidance on Sanctions’ (GOS) effective from 1 June 2023, through to final disposal, including the outcome of any challenge.
Stay up to date with ICAEW podcasts
  • Article
  • 17 Nov 2025
Are you really prepared for a cyber attack? Should we compensate whistleblowers? What is coming in the Finance Bill? Stay in the loop on accountancy’s hot topics with podcasts from the ICAEW. 
Expenses fraud: how to spot an AI-generated receipt
  • Article
  • 13 Nov 2025
AI-powered expenses fraud is on the rise. How can businesses protect themselves?
How should audit firms use AI?
  • Podcast
  • 11 Nov 2025
This episode focuses on the integration of AI in audit processes, emphasising the need for practical guidance from the Financial Reporting Council (FRC) to build industry confidence, especially with smaller firms.
More

Anti-money laundering

ICAEW Guidance on Sanctions – effective 1 January 2026
  • Regulations
  • 01 Jan 2026
  • PDF (1,351kb)
This guidance takes effect from 1 January 2026 and applies to any matter first considered by the Conduct Committee after that date. That means matters considered on or before 31 December 2025 will continue under the ‘Guidance on Sanctions’ (GOS) effective from 1 June 2023, through to final disposal, including the outcome of any challenge.
Expenses fraud: how to spot an AI-generated receipt
  • Article
  • 13 Nov 2025
AI-powered expenses fraud is on the rise. How can businesses protect themselves?
AML supervision reform: Duties, powers, and accountability consultation
  • Article
  • 10 Nov 2025
HM Treasury has published a consultation to hear feedback on proposals to reform the supervision of anti-money laundering and counter-terrorist financing (AML/CTF) compliance among professional services businesses. HM Treasury is keen to hear from stakeholders across the AML-regulated population. There is also an opportunity to register for roundtable discussions on the the proposals.
AML thematic review 2025
  • Report
  • 10 Nov 2025
  • PDF (1,859kb)
AML thematic review 2025: SUSPICIOUS ACTIVITY REPORTS
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Bribery and corruption

ICAEW Guidance on Sanctions – effective 1 January 2026
  • Regulations
  • 01 Jan 2026
  • PDF (1,351kb)
This guidance takes effect from 1 January 2026 and applies to any matter first considered by the Conduct Committee after that date. That means matters considered on or before 31 December 2025 will continue under the ‘Guidance on Sanctions’ (GOS) effective from 1 June 2023, through to final disposal, including the outcome of any challenge.
An upstanding manager of mayhem: John Franklyn Venner’s war
  • Article
  • 08 May 2025
How an accountant of flawless integrity ensured bribery and corruption helped to win the Second World War. On the 80th Anniversary of VE Day, ICAEW salutes the career of John Franklyn Venner FCA.
DRAFT ICAEW Disciplinary Sanctions Guidance
  • Helpsheets and support
  • 23 Apr 2025
  • PDF (1,236kb)
ICAEW is consulting on new Disciplinary Sanctions Guidance. The guidance outlines how sanctions will be determined in disciplinary cases involving ICAEW-regulated firms and individuals. This guidance is used by ICAEW’s Conduct Committee, Tribunals Committee and Appeal Committee when considering disciplinary allegations. View the exact changes that were being proposed to the regulations via the full consultation document.
Jon Moulton on dealing with America
  • Article
  • 09 Apr 2025
Jon Moulton admits that disruption can prove fruitful for dealmakers. But too much – as is being seen in the Trump administration – is another matter.
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Fraud

ICAEW Guidance on Sanctions – effective 1 January 2026
  • Regulations
  • 01 Jan 2026
  • PDF (1,351kb)
This guidance takes effect from 1 January 2026 and applies to any matter first considered by the Conduct Committee after that date. That means matters considered on or before 31 December 2025 will continue under the ‘Guidance on Sanctions’ (GOS) effective from 1 June 2023, through to final disposal, including the outcome of any challenge.
Expenses fraud: how to spot an AI-generated receipt
  • Article
  • 13 Nov 2025
AI-powered expenses fraud is on the rise. How can businesses protect themselves?
Failure to prevent fraud: who's liable
  • Article
  • 15 Oct 2025
The failure to prevent fraud offence, part of the Economic Crime and Corporate Transparency Act 2023 (ECCTA), came into force in September 2025, bringing organisations into liability.
Failure to prevent fraud: reasonable defence
  • Article
  • 15 Oct 2025
An outline of what businesses need to demonstrate to defend against a failure to prevent fraud charge.
More
Business Fraud Alliance an initiative from the Fraud Advisory Panel supported by Barclays

Help tackle fraud in the workplace

  • Website
  • 01 Sep 2025
The Business Fraud Alliance campaign - an initiative led by the Fraud Advisory Panel and supported by Barclays - is gathering real-world data about fraud to help protect businesses in future. Share your experiences by 30 September.
Take the survey

Modern slavery

Modern slavery signs that accountants are well placed to spot
  • Article
  • 30 Jul 2024
Businesses are increasingly raising concerns of modern slavery and recognising risks in their supply chains. Which red flags must accountants be particularly alert to?
The role of ethics within AI to combat modern slavery
  • Article
  • 05 Jul 2024
We complete our iEARTHS miniseries journey through an ethical lens. The ethical risks and challenges are real and require thoughtful reflection to protect what really matters: vulnerable individuals.
Diving deeper into the data for combating modern slavery
  • Article
  • 26 Jun 2024
The challenges around understanding what the data does or doesn’t tell us is a major factor in making AI work effectively. In the latest in his series, David Wray looks at getting data right and how causal AI might aid in offering decision-useful options.
Combating modern slavery: when Gen AI isn't enough
  • Article
  • 20 Jun 2024
Following his introduction to the iEARTHS’ artificial intelligence (AI) solution, David Wray discusses why causal AI was chosen over generative AI and how the team tackled bias and hallucinations.
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Whistleblowing

ICAEW Code of Ethics 2020
  • Regulations
  • 01 Jan 2020
  • PDF (3,936kb)
ICAEW Code of Ethics 2020
Whistleblowing
  • Helpsheets and support
  • 15 Aug 2017
  • PDF (155kb)
Information and advice to help you decide when and how to 'blow the whistle'.
Exclusive Special Report 52: People and skills
  • Report
  • 29 Feb 2016
  • PDF (4,295kb)
This quarterly report deals with recruiting and retaining the right staff with good practical tips and advice from a variety of specialists.
Exclusive Receipt of Information in Confidence by Auditors (TECH 10/14 AAF)
  • Technical release
  • 08 May 2014
  • PDF (210kb)
Guidance that provides assistance for auditors when they receive information in confidence. It covers the requirements that apply in situations where the information might be relevant to the audit and the duty auditors have to those providing the information. This guidance supersedes AUDIT 2/99/TECH 16/99 issued in December 1999 which is withdrawn.
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Meet the team

Learn more about the work of ICAEW's Trust & Ethics team and the expert groups who support us, including the Ethics Standards Committee, Business Law Committee and Insolvency Committee.

Find out more
ICAEW's Director of Trust and Ethics, Laura Hough, discusses why good people do bad things with industry experts in this ICAEW Insights Podcast.

Further resources

icaew communities
Corporate Governance Community
  • Promotional material
Forensic & Expert Witness Community
  • Promotional material
Restructuring & Insolvency Community
  • Promotional material
Solicitors Community
  • Promotional material
library resources
eBooks on law
  • Listing
related topics
Audit reform and trust in business
  • Hub page
Corporate governance
  • Hub page
Gender pay gap reporting: the regulations
  • Helpsheets and support
Professional conduct in relation to taxation (PCRT)
  • Helpsheets and support