Oversight

ICAEW’s regulatory and conduct roles are carried out by the Professional Standards Department. This work is overseen by the ICAEW Regulatory Board and by oversight regulators, including the Financial Reporting Council, the Insolvency Service, Legal Services Board, the Office for Professional Body AML Supervision (OPBAS) for AML supervisory work, and the Financial Conduct Authority.

Oversight regulators

Five oversight regulators oversee ICAEW’s regulatory and conduct work.

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The IRB

The ICAEW Regulatory Board (IRB) is responsible for ensuring ICAEW’s regulatory and disciplinary work, undertaken by the Professional Standards Department is carried out in the public interest.

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Regulatory and
disciplinary
committees

Regulatory and conduct decisions are made by the regulatory and disciplinary committees. These operate independently from ICAEW/PSD staff.

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Regulatory & Conduct Appointments Committee

The Regulatory & Conduct Appointments Committee (RACAC) is responsible for dealing with all matters relating to the appointment, performance evaluations and remuneration of chairs and members of the IRB, regulatory and disciplinary committees and case file reviews.

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ICAEW’s regulatory and conduct oversight structure

*All regulatory and disciplinary decisions are made by a lay majority or lay parity.
Updated to reflect the new disciplinary framework, effective June 2023

Regulation and Conduct Annual Report

Find out more about ICAEW’s regulatory and conduct work in the latest report.

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