ICAEW applies to become probate and MDP regulator

by Kevin Reed

More from this author

18 Dec 2012

  • Comments
Vernon Soare

THE ICAEW has made its application to become a regulator and licensing body for probate services and alternative business structures (ABSs).

The institute's application is part of years of planning and preparation towards it providing more services that its members can offer. The opening up of legal services came about from new law in 2007, designed to open up the legal market to new entrants.

Alongside probate services, the institute wants to be a regulator for ABS, also known as multi-disciplinary practices, which would contain a mix of lawyer and accountancy partners.

The process should take a year, the institute has previously indicated.

Vernon Soare (pictured), ICAEW executive director of professional standards, said: "As an experienced regulator, I am confident that ICAEW will ensure its members and firms provide excellent probate services to the public.

"As the first professional accountancy body to apply to license alternative business structures, we recognise the importance of widening consumer choice in the legal services market and of protecting the consumer through effective regulation."

Back in 2008 the ICAEW cooled off plans to become a licensing body for probate, over fears that it would suffer disproportionate regulatory costs.

Last year ICAEW chief executive Michael Izza warned the Law Society to update its guidance, which he claimed restricted solicitors and accountants working together.

Visitor comments

blog comments powered by Disqus

Add your comment

We won't publish your address

By submitting a comment you agree to abide by our Terms & Conditions

Your comment will be moderated before publication

  • Send

Charterhouse Accountants

Finance Officer

Charterhouse Accountants, Beaconsfield, Permanent, Full Time, £ Competitive




Get the latest financial news sent directly to your inbox

  • Best Practice
  • Business
  • Daily Newsletter
  • Essentials


Search for jobs
Click to search our database of all the latest accountancy roles

Create a profile
Click to set up your profile and let the best recruiters find you

Jobs by email
Sign up to receive regular updates with the latest roles suitable for you



Why budgeting fails: One management system is not enough

If budgeting is to have any value at all, it needs a radical overhaul. In today's dynamic marketplace, budgeting can no longer serve as a company's only management system; it must integrate with and support dedicated strategy management systems, process improvement systems, and the like. In this paper, Professor Peter Horvath and Dr Ralf Sauter present what's wrong with the current approach to budgeting and how to fix it.


iXBRL: Taking stock. Looking forward

In this white paper CCH provide checklists to help accountants and finance professionals both in practice and in business examine these issues and make plans. Also includes a case study of a large commercial organisation working through the first year of mandatory iXBRL filing.