The ICAEW and the Law Society have locked horns over the right of accountants to be licenced for probate work.
In December 2012, the ICAEW formally applied to the Legal Services Board to become a regulator for probate work carried out by alternative business structures (ABS). The institute sought only the right to accredit firms wishing to carry out non-contentious probate work in which all the principals and owners are individually authorised to carry out probate work, or a smaller number of specialists are working within an ABS.
In its response to the LBS, the Law Society argued that the ICAEW did not have the same separation between its regulatory and representative functions that other approved licensing authorities for probate work.
ICAEW chief executive Michael Izza recently blogged that he was...
About John Stokdyk
John Stokdyk is the global editor of AccountingWEB UK and AccountingWEB.com.