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Displaying 1-13 of 13 results
AML - the essentials. Issue 31, April 2024
- 30 Apr 2024
So far in 2024, there have been a number of regulatory and legislative changes, which we share in this edition. We also encourage you to respond to the open consultations and government surveys to ensure that future changes to the anti-money laundering regulatory framework are workable for the accountancy sector.
HMRC update on process for directors’ loan accounts (DLAs) written off in corporate insolvency procedures
- 25 Apr 2024
From 1 April, HMRC's mailbox relating to DLAs was decommissioned. Insolvency practitioners (IPs) used it to send copies of their final reports in corporate insolvency cases for HMRC to identify tax compliance risks from any directors with an unpaid loan account. Instead, IPs wishing to engage with HMRC regarding DLAs should write to Corporation Tax Services, HM Revenue and Customs, BX9 1AX. Please access the Insolvency Guidance bulletin for more information.
Regulatory and Conduct Appointments Committee is now recruiting for its Chair
- 23 Apr 2024
The role for Chair is currently open for the Regulatory and Conduct Appointments Committee (RACAC). RACAC is responsible for dealing with all matters relating to the appointment and performance evaluations of chairs and members of the ICAEW Regulatory Board and Professional Standards Committees. The role is remunerated and is an exciting opportunity to make a difference in the regulatory arena. Apply by 17 May.
Improving the effectiveness of the Money Laundering Regulations
- 23 Apr 2024
HM Treasury has published a consultation on improving the effectiveness of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 which place requirements onto a range of businesses to identify and prevent money laundering and terrorist financing. While the consultation is open, HM Treasury is holding a series of virtual, working-level events to discuss the consultation with interested stakeholders.
Legal Services Compensation Scheme review and consultation
- 11 Apr 2024
As an approved legal services regulator, ICAEW is required to have in place appropriate compensation arrangements (the Scheme) for the purposes of consumer protection. The Scheme has been in place since 2014. ICAEW has therefore undertaken a review and is now inviting you to respond to its assessment of the Scheme and a proposal to continue with the current format.
Professional Standards Update April 2024
- 11 Apr 2024
This month, we share more information about upcoming PII changes and invite you to ask your questions during a webinar on 21 May. We also highlight common mistakes firms make regarding Clients’ Money requirements, share a summary of recent disciplinary cases and signpost resources and updates according to your regulatory role.
Stepping up to the challenge
- 08 Apr 2024
ICAEW’s Professional Standards Department (PSD) has recently made three new senior management appointments. We ask Sophie Wales, Director of Regulatory Policy, Sarah Brook, Director of Investigations, and Nick Reynolds, Head of Audit, about their new roles, and their priorities for the future.
PII requirements: What changed on 1 September 2024?
- 05 Apr 2024
Last year, the ICAEW Regulatory Board, working collaboratively with the Professional Indemnity Insurance Committee (PIIC), launched a review of ICAEW’s insurance requirements. A consultation relating to proposed changes ran between 18 October and 14 December 2023. Following careful consideration of the feedback we received, some of the proposals were taken forward and came into effect on 1 September.
Disciplinary update: April 2024
- 04 Apr 2024
Take note of the latest disciplinary cases to ensure you or your firm are not making similar mistakes.
Griffin Stone Moscrop & Co: finding synergy
- 04 Apr 2024
For Griffin Stone Moscrop & Co, becoming probate accredited was a way of ensuring clients had access to a full suite of services.
Bishop Fleming: listening to clients
- 04 Apr 2024
Bishop Fleming is committed to listening to client feedback across all its service lines. In this case study showing how ICAEW probate-accredited firms gauge client satisfaction, Alex Robins, Partner and Head of Trusts and Probate, and Paul Seymour, Chief Marketing Officer, share their insights.
ISQM1: early findings from quality assurance monitoring
- 04 Apr 2024
The International Standard on Quality Management 1 (ISQM1) replaced ISQC1 in December 2022 to help firms proactively manage audit quality. Over the last 15 months ICAEW Quality Assurance Department (QAD) reviewers paid close attention to how firms have adopted this new quality management system and provided relevant guidance where needed. We look at the early findings and highlight what QAD will be looking for in 2024.
Clients’ money requirements: avoid these common mistakes
- 03 Apr 2024
ICAEW’s Clients’ Money Regulations are prescriptive and detailed, with the obvious objective of protecting clients’ money. Nevertheless, we find that a significant proportion of firms that hold clients’ money do not comply with one or more of the requirements. We have therefore highlighted some common areas that firms have problems with. Check through the list to ensure your firm is not making similar mistakes.
Displaying 1-13 of 13 results
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