ICAEW’s Financial Services Faculty has updated its guidance for skilled person reviews. This replaces guidance from 2014. This update reflects the experience gained of directly commissioned engagements and increased focus on the relationship between skilled person reviews and enforcement action. The working group brought together by ICAEW to assist in updating the guidance comprised skilled persons from across the market, including accountants, solicitors and consultants from firms of all sizes to ensure a wide array of views and the highest level of quality and experience.

The Prudential Regulation Authority and the Financial Conduct Authority were observer members of the ICAEW working group.