ICAEW Practice Assurance Review
As a regulated practice, AMS Accountants Corporate is subject to external inspection by our regulators ICAEW every six years.
Earlier this month we had our latest inspection, following on from the audit inspection we had late last year, which we have passed with flying colours.
As part of this review, ICAEW carry out a detailed review of our systems and processes, confirming that these are in line with best practice across the accountancy sector.
As part of a week long visit, they reviewed areas such as:
· New client take on procedures;
· Money laundering policies;
· Client engagement letters;
· Training and development;
· Appraisal process.
The ICAEW even reviewed a sample of our accountancy files to ensure that the work we carry out is of sufficiently good quality and in keeping with an ICAEW member firm.
Following the visit, we have had positive feedback from ICAEW and a clean bill of health.
In their report they note that our systems are appropriate for a firm of our size and fit for purpose. High praise indeed from ICAEW!
It is always good to see that the many improvements which have been brought in over the last few years have been recognised and are comparable with firms of our size.
Well done to all!