Information on the best ways to develop a long term business relationship with your clients. Includes sample engagement letters, methods of dealing with complaints, dispute resolution and the support ICAEW can offer you.
Engagement letters, often perceived as a mere regulatory formality, are vital in setting out the relationship between firms and their clients. Whilst many firms initiate these letters at the outset of a relationship, they tend to revisit them only during significant internal or external changes.
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.
Firms authorised or licensed to carry out probate services must make their clients aware of the compensation arrangements and complaints process. In the case of the ‘complaints’ procedure, this should be applied for both legal and non-legal services. The Technical Advisory Services (TAS) team has updated Part 2 Q of the engagement letters helpsheet to reflect changes to the Legal Ombudsman scheme rules, effective from 1 April 2023. Only sections 3, 3.1.3, 3.1.6 and 3.1.9 have been updated. Note that the helpsheet package as a whole has not had a full review on this occasion.
In this issue, we look at firm responsibilities for the revised CPD guidance; updates to the Engagement Letters helpsheet; Changes to ICAEW's disciplinary process; ISQM1; resources and guidance to make technology work for you; and much more.
Good communication is more than the way you speak - it's about making sure clients feel heard, says Kristine McManus. The article offers advice on client management for financial advisers, highlighting communication essentials such as setting expectations, clarifying value propositions and avoiding haphazard communication.
Best practices for accounting firms to communicate with clients.
Ensuring compliance with General Data Protection Regulation is the perfect opportunity to clean up your business’s practices around handling data.
Find out how to make a complaint, how we handle complaints, duty to report misconduct and the support available if you are the subject of a complaint.
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. The guidance (first issued in 1993) on what and how to report misconduct has recently been updated.
Background information and practical guidance on business dispute resolution.
Disengaging from clients, including preparing disengagement letters.
In light of international sanctions against Russia, members should turn to open sources of information as part of their client due diligence. ICAEW’s video offers useful pointers.
The new year is often a time when clients decide to change their accountants, but what should you do if a client decides to leave your practice?
Find out about the tools that can help you in your career as an independent adviser or consultant.
An article exploring business growth which comes from two areas – selling additional services to existing clients and acquiring new clients for the practice.
Whatever your technical or ethical query, ICAEW members, affiliates, ICAEW students and staff in eligible firms with member firm access can phone +44 (0)1908 248 250 for objective, confidential advice from the experts.
ICAEW’s Technical Advisory Services helpsheets reflect the practical guidance provided to our members every day on the helplines and highlight important issues for members. Access practical technical and ethical guidance, as well as frequently asked questions, to support you day to day, whether you are a member in practice or in business.