ACCA to cancel status as approved regulator for probate
ACCA will implement changes to the Chartered Certified Accountants’ Global Practising Regulations 2003, including the removal of the Legal Activities Regulations 2018, effective 1 January 2022
ACCA has announced its notice to the Legal Services Board (LSB) to cancel its designation as an approved regulator in relation to the reserved legal activity of probate.
It revealed in 2019 the firm reviewed its approach to probate regulation in England and Wales in order to assess how best to support members in practice and provide the greatest opportunity for its small business practitioners (SMPs) to undertake legal services, whilst managing risks posed by changes in the “regulatory landscape”.
In September 2019 ACCA council approved three measures: providing a pathway for eligible members to achieve probate authorisation from CILEx Regulation (CRL); relinquish its approved regulator status for probate in England and Wales and fully exit legal services regulation.
According to ACCA, the CRL pathway enables its probate practitioners to offer probate as an ancillary activity to the firm’s accountancy work under a similar regulatory framework to that currently offered by ACCA.
Practitioners will also benefit from access to a range of support services, including CPD and individuals and firms authorised for probate will be invited to apply to CRL for probate authorisation in the coming weeks.
Maggie McGhee, executive director for strategy and governance, said, ‘We are delighted that the LSB has approved a route for the regulation of ACCA probate practitioners and firms with CRL.
“By partnering with CRL, ACCA will be able to offer a pathway for eligible practitioners to achieve reserved legal activities authorisation beyond non-contentious probate work and, in turn, support practitioners to diversify their service offerings.”
ACCA intends to withdraw all regulatory arrangements for probate activities, effective 1 January 2022.
