Regulatory and Conduct News
ICAEW Regulation and Conduct
Protecting the public by ensuring ICAEW regulated firms and members retain the highest standards of professional conduct
This month we announce new Professional Indemnity Insurance Regulations that will take effect on 1 September 2024 and we encourage our firms to make sure they are allowed to use the ‘chartered accountants’ description. You can also read the outcomes of the latest disciplinary cases and access updates and resources that are relevant to your role.
Key reminders and updates
Following a consultation, ICAEW's Professional Indemnity Insurance Regulations are being updated. Find out the main changes.
Take note of the latest disciplinary cases to ensure you or your firm are not making similar mistakes.
Despite rules set by ICAEW on the use of 'chartered accountants,' many firms continue to misuse the description, leading to non compliance. We look at the common pitfalls.
All of the roles are remunerated and we are looking for expertise across a range of regulated areas.
Anti-money laundering
HM Treasury is seeking input on improving the effectiveness of the Money Laundering, Terrorist Financing and Transfer of Funds Regulations. Explore details and share your feedback on the consultation.
Our videos on the topic of SARs have been updated to cover the National Crime Agency’s new SARs reporting process. Watch and share the videos with your colleagues to stay up to date.
New Companies House regime aims to improve data quality and counter misuse – a timely introduction as banks are on high alert due to a spike in potential fraudulent company filings.
Audit
Recommended by LinkedIn
In this Insights In Focus episode, we discuss the future of audit and corporate governance reform.
DPB (Investment Business)
The results of our 2023 monitoring activity are available. The infographic includes key resources we recommend firms familiarise themselves with in order to avoid the most common issues we see at monitoring reviews.
Insolvency
In the final webinar of the 2023 series, our Quality Assurance Department's insolvency team flagged some hot topics for insolvency practitioners and discussed the most important findings from monitoring reviews. This article summarises the key points.
A recent Restructuring and Insolvency Roadshow focused on fees estimates and time recording. In our second article exploring key issues around these hot topics, Michelle Butler, partner at The Compliance Alliance, explains why your systems for time recording are so important.
We completed more than 150 insolvency reviews in 2023. Access the infographic to find out the results and what actions were taken.
Probate
The Legal Services Board has released its annual performance review outcomes, awarding ICAEW a 'green' rating for well-led.
We completed 60 monitoring review visits with probate firms throughout 2023. Open the infographic to find out the results.