RegulationAccounting StandardsICAEW mulls options to expand its legal services licensing

ICAEW mulls options to expand its legal services licensing

Institute considers plan to expands its legal services licensing beyond probate/ABSs

ICAEW mulls options to expand its legal services licensing

AN EXPANSION of legal services that can be offered by ICAEW members is being looked into by the institute.

With more than 150 probate and ABS (alternative business structure) licences now held by its membership, the ICAEW is now considering further services they can offer, CEO Michael Izza told Accountancy Age.

“We’re thinking about our next steps and have an appetite to extend further – watch for that in the new year,” said Izza.

The institute spent many years working towards gaining the ability to issue the licences, following the opening up of legal services through the Legal Service Act 2007. It faced opposition to its plans from the Law Society in 2013, before gaining licensing authority status in 2014.

In a wide-ranging interview Izza also spoke of concerns about the audit threshold, where companies become exempt from having an external audit, climbing higher, and how digital advancements are changing the way in which practices deliver services.

Visit Accountancy Age next week for the full discussion.

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