In this round-up, we highlight some of the main activities in June. Be sure to catch up on updates for CPD requirements plus changes to the revised ICAEW disciplinary framework. Read our operational update and have your say on upcoming consultations for probate fees and SIP 3.3 trust deeds, Also, access regulatory newsletters published this month, the latest disciplinary update, AMLbites recordings and tips from law enforcement agencies.

CPD is changing
Read about revised CPD Regulations for firms, effective from 1 November 2023. Guidance and details are available on our dedicated web page.

Guidance on your duty to report misconduct as an ICAEW member
As part of the recent disciplinary framework changes, find out how your duty to report misconduct has been extended to include firms, affiliates and other ‘relevant persons’.

Consultations
As an improvement regulator, the Professional Standards Department (PSD) will initiate and respond to consultations on issues that relate to our regulatory responsibilities, including specific regulatory issues or matters that relate solely to regulation. We invite the views of ICAEW members and those individuals and firms regulated/supervised by ICAEW, consumers of accountancy services and other stakeholders. 

Current consultations include:

• Statement of Insolvency Practice 3.3 – Trust Deeds
• 2024 probate fees consultation
  
  

Articles on regulatory matters

• PSD update
• The Chief Officer’s operational highlights and plans in this extract from the ICAEW Regulatory and Conduct Annual Report 2022–2023
• Take note of the latest disciplinary cases to ensure you or your firm are not making similar mistakes
• What should you do if your firm finds itself having to respond to QAD follow-up actions, and how can you help the process go smoothly?
• Watch and share AMLbites: Risks and red flags – Modern slavery and human trafficking and find out what red flags all firms should be aware of
• Find out how well-written SARs from insolvency practitioners (IPs) help law enforcement agencies identify bounce back loan (BBL) fraud and misuse of other COVID support schemes 

Regulatory newsletters published this month

• Audit News: Issue 74
• ATOL News: Issue 4, June 2023
• DPB Update Issue 15 June 2023

Keep updated

Please continue to visit the various sections under Regulation on the ICAEW website to stay current with all the latest regulatory-related guidance. 

Plus be the first to know when articles like these are released. 

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