Blog
What is your duty to co-operate with your regulator?
Zoe Beels
18 July 2023
ICAEW duty to report misconduct extended to member firms
Last month, as part of its new disciplinary framework, the ICAEW broadened the Duty to Report Misconduct, both in scope (what must be reported) and application (who must report).
We blogged on the updates to the previous Guidance on the Duty to Report Misconduct in 2020. Three years later the net has widened further, this time with potentially significant ramifications for ICAEW member firms.
1 February 2022
The ICAEW intends to update its disciplinary framework: how might this affect your obligations as a member?
The ICAEW Regulatory Board is currently consulting on proposed changes to the ICAEW disciplinary framework, and is seeking views by 15 March 2022, with the intention to launch a new set of “Core Disciplinary Bye-Laws” and a new “Regulations Handbook” this summer.
22 July 2021
Maintaining the boundaries of personal and professional life: new ethics guidance for professional accountants
The Consultative Committee of Accountancy Bodies (CCAB) has issued new guidance for professional accountants on the boundaries of professional and private behaviour, setting out for the first time a list of agreed common principles which will apply when a professional accountant’s behaviour in their personal life could become of regulatory interest to their professional body.
1 March 2021
Audit reviews: the process, pitfalls and published themes – a focus on FRC Audit Quality Reviews
In the second blog of our audit series, Julie Matheson and Sarah Harris discuss the FRC’s recent Audit Quality Inspection report, describe how the FRC uses its powers to uphold audit quality and provide some tips on what to do if the FRC opines that one of your firm’s audits needs more than limited improvements.
7 February 2021
Top tips for managing an accountancy disciplinary investigation
As an accountant or accountancy technician hopefully you will proceed through your career without becoming involved in any sort of disciplinary proceedings. However, you are not immune from being the subject of a complaint from a client to your regulatory body. Whether you are regulated by the ICAEW, ACCA, CIPFA, CIMA, ICAS or the AAT, there is always the possibility of an unwelcome approach by the disciplinary team of your regulator. Each regulator has a duty, in the public interest, to investigate complaints against its members. High profile complaints will usually be investigated by the Financial Reporting Council (FRC), which has a similar duty to consider all matters referred to it, with a view to deciding whether disciplinary proceedings are required.