New sanctioning powers for Practice Assurance Committee

The Practice Assurance Committee can now offer penalties for less serious compliance breaches and conduct issues identified during Practice Assurance reviews. 

  • The penalties will only be applied with the consent of the member or firm.
  • This new process will enable matters to be dealt with more quickly and for less cost.
  • They allow the PAC to apply a sanction more quickly for AML and other breaches (at the request of ICAEW’s oversight regulators).

Access the full details including the revised Practice Assurance Regulations and more information about the Practice Assurance Committee.