As a world-leading improvement regulator, we supervise and monitor over 12,000 ICAEW firms and insolvency practitioners (IPs), holding them, and all ICAEW members and students, to the high standards of competency and conduct in the profession. Find out what our firms thought of the monitoring review process from our latest survey.
Monitoring is carried out by the Quality Assurance Department (QAD), which is part of the Professional Standards Department (PSD). PSD is responsible for carrying out ICAEW's regulatory and conduct roles. These roles are separated from ICAEW’s other activities through internal governance so that we can monitor, support or take steps to ensure change if standards are not met.
After each monitoring review, firms and IPs are asked to complete an anonymous survey, providing feedback on the review process, the quality of interaction and the support provided. The infographic illustrates the results of the responses.
Monitoring reviews ensure and reassure firms/IPs they are meeting the expected requirements of the standards, regulations and the ICAEW Code of Ethics. In turn, we take action where the requirements are not met.
Latest Quality Assurance monitoring feedback
In Q2 2024, we had 9 out of 10 firms report they were very satisfied with the quality of our interaction with them. This is an increase of 5% on the previous quarter and the third time in the last five years when a value of more than 90% has been achieved.
The five criteria firms rate us include:
- good business understanding;
- technical competence;
- being constructive;
- patient; and
- courteous.
In addition to a high regard for our reviewers, firms also expressed satisfaction with the support from our head office with 97% of firms confirming sufficient notice of their review was given and 96% confirming that they had no difficulty with providing information before a revisit.
The pre-visit, during and post-visit interaction with ICAEW and the QAD reviewer were very timely and of a high standard.”
Our reviewer was brilliant ��� really helpful and supportive, thank you!”
Archive
View previous survey results.
