Regulation

ICAEW publishes regulatory and conduct annual report

During 2021/22, the IRB conducted key activities including a detailed response to the government consultation on Restoring Trust in Audit and Corporate Governance

ICAEW has published its regulatory and conduct annual report for 2021/22.

The institute’s regulatory and conduct work is separated from its other activities and is carried out by the Professional Standards department, overseen by the ICAEW Regulatory Board (IRB). 

During 2021/22, the IRB conducted key activities including:

  •         a detailed response to the government consultation on Restoring Trust in Audit and Corporate Governance
  •         significant progress on a new disciplinary framework, set to launch at the end of the year
  •         Revised the quality assurance programme for regulatory and disciplinary committees
  •         Refreshed strategy for legal services regulation conducted by ICAEW
  •         Responded to the Insolvency Service’s consultation, The Future of Insolvency Regulation.

Philip Nicol-Gent, chair of the IRB, said: “In spite of continued challenges from the pandemic I pay tribute to the work of ICAEW’s Professional Standards Department over the past year.

“The IRB has been pleased to play a forward-looking strategic role, to ensure that, as an improvement regulator, ICAEW continues to strengthen trust in members and member firms, and to work in the public interest.” 

He added: “To do so, in the past year we have focused on reforming ICAEW’s disciplinary framework, developed a refreshed strategy for legal services and responded to government consultations on audit and insolvency. 

“As changes across the accountancy sector unfold, we will make sure the IRB plays a central role in shaping the landscape, and that the public interest is upheld.”

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