When the ICAEW practice assurance inspector calls. By Richard Murphy
No one is delighted about being told they are to face an inspection. I certainly was not when I got a letter from the ICAEW advising me that it was my turn for a Practice Assurance review. But it's been and gone now, so I can reflect on the lessons learned.
I admit that my practice is now only a part time activity, and in that context completing much of the documentation needed for the Practice Assurance process seemed a bit tedious on occasions. By chance (well, I think it was chance) the request for the review meeting came shortly after I had finished my most recent ICAEW annual return.