Updated ICAEW Technical Release - Guidance for Reporting Accountants
ICAEW have now published the updated guidance to Reporting Accountants following the implementation of the new Accounts Rules in November 2019.
The Technical Release (TR), which has been discussed in detail with the SRA, is intended to be complementary to the SRA’s own guidance note.
The TR does not directly deal with the changes to the Accounts Rules themselves, as this is adequately covered elsewhere. Experience so far has been that the vast majority of law firms have ‘adopted’ as many of the 2011 Rules as allow for continued compliance, making only a few ‘tweaks’ and necessary changes – for example when operating a client’s own account.
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