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ICAEW seeks to regulate further reserved legal activities

Authority expects to be able to regulate further services by April 2017

12 February 2016

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The Chartered Institute of Accountants in England and Wales is consulting the accountancy profession on whether to apply to regulate further legal services.

The ICAEW will seek to become an approved regulator of conduct of litigation, rights of audience, reserved instrument activities, notarial services and administration of oaths.

The regulator became authorised to regulate probate and grant ABS licenses in August 2014, with Kingston Smith becoming the first accountancy firm to be able to conduct probate work in October 2014.

A statement released by the institution said: 'The number of applications for authorisation and licensing for probate received during our first year of regulation have far exceeded our expectations.

'To build on the success of our probate regulation, we intend to make an application to the Legal Services Board (LSB) under the act [Legal services Act 2007] to become an approved regulator and licensing authority for the further reserved legal activities.'

Regulation of the activities will be restricted to the area of taxation, the ICAEW has confirmed.

The authority expects to be able to begin authorising firms and licensing ABSs by April 2017.

 

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