Professional Standards update February 2023

Disciplinary update: February 2023
Take note of the latest disciplinary cases to ensure you or your firm are not making similar mistakes.

Hitting the mark
Gibson Appleby, a small firm of chartered accountants based near Brighton in Sussex, used All Too Familiar to engage partners and other staff, and build on its existing anti-money laundering training resources.

Bounce Back Loan SARs: what good looks like
This webinar is one in a series brought to you by the Restructuring & Insolvency Community. It will include a presentation by the Financial Intelligence Unit of the National Crime Agency and National Investigation Service on what constitutes a good quality suspicious activity report (SAR), focusing on bounce back loan fraud and misuse of other COVID support schemes.

This event may also be useful to anyone working in an anti-money laundering compliance role.

Quality Assurance monitoring feedback results for 2022
We completed 2,520 quality assurance visits to our firms in 2022 – view their feedback on the monitoring process.

Better conversations
ICAEW’s Professional Standards Department has introduced a targeted mental wellbeing programme to support staff dealing with challenging conversations during regulatory and disciplinary processes. We look at how having the right tools helps people better look after themselves and others.

Serve on our regulatory and disciplinary committees
Find out more about the expertise we are looking for, remuneration rates for accountant and lay members and how to express your interest.

Making people count - Explore how to collect, examine and monitor social mobility data effectively
The benefits of having a socially diverse workforce are immense. This webinar will seek to inspire and empower you on your data collection journey that will enable you to make changes that improve your organisation's workplace diversity.

ICAEW Regulatory Board meeting agendas, papers and minutes
Access information and documentation relating to past and future ICAEW Regulatory Board meetings.

Webinar invitation: money laundering risks – a practical guide
Anti-money laundering professionals from across the accountancy profession and members of the AML supervisory team at ICAEW will make up the expert panel for this event. The webinar will include practical guidance including case studies and will cover:

• Understanding the concept of risk when performing customer due diligence.
• How to assess and record money laundering risks
• The red flags that could be indicative of criminal activity
• Emerging money laundering risks
• How to ensure staff understand and recognise risk
• Question and answer session

ICAEW AML supervisory role and activity 2022
789 criminal record checks were reviewed as part of our supervisory role in 2022. View the full summary.

ISQM 1 resources

ICAEW Quality Management Statement
For firms who have not quite completed their work on service providers – we have published a statement in relation to the support that ICAEW provides that may be considered under that heading.

Overview of standards
An overview of the new quality management standards for any firms thinking of applying for audit registration.

Root cause analysis for small practices
Root cause analysis for smaller firms now developing their monitoring and remediation processes during 2023.

Financial promotions: the right side of the rules
The regulatory requirements around making financial promotions are complex. We look at the core principles and offer some tips to help you avoid falling foul of the rules when you’re communicating with clients about investment opportunities.

Completing and submitting the VAT100 (2021)
HMRC has introduced a new style VAT100 (2021) and a fully automated process which means returns can be automatically scanned. Please ensure you are only using the new versions of the VAT100 and that the barcode is not altered or deleted. Find out more and access FAQs.

Insolvency News, Issue 12 - now available
Read about some of the key outcomes from last year's quality assurance monitoring visits, familiarise yourself with forthcoming changes to SIP 3.1, access HMRC's latest bulletins and sign up to our next live webinar.

Completing and submitting the VAT100 (2021)
HMRC has introduced a new style VAT100 (2021) and a fully automated process which means returns can be automatically scanned. Please ensure you are only using the new versions of the VAT100 and that the barcode is not altered or deleted. Find out more and access FAQs.

2023 Probate Diversity Survey webinar resources
The slides and recording are now available. The mandatory survey for all ICAEW accredited probate firms needs to take place on or near to 31 March 2023.

ICAEW probate register
Accounting, tax, law and administration skills mean accountants are often well placed to carry out probate and estate administration services for their clients. Use the ICAEW probate register to find an ICAEW firm in your area to assist you.

2022 Probate Monitoring Results - now available
We carried out 66 monitoring review visits with probate firms throughout 2022. Open the infographic for further results.