ICAS Charter Rules and Regulations

The ICAS constitutional documents comprise of the Royal Charter of 1854 and a Supplementary Charter of 1951.

The Charters are supported by Rules, which are agreed by the Privy Council, and the Charter states that the Rules shall be duly kept, observed and obeyed. There are also regulations that are mandatory.

The Royal Charter and Supplementary Charter

The Royal Charter and Supplementary Charter provided here consist of:

  • The original Charter of 1854 granted to The Society of Accountants in Edinburgh; and
  • The Supplementary Charter of 1951 when The Society of Accountants in Edinburgh, The Institute of Accountants and Actuaries in Glasgow, and The Society of Accountants in Aberdeen joined together as The Institute of Chartered Accountants of Scotland. Additional amendments, which were made in 1992, 2006 and 2012, have been incorporated.

View the ICAS Royal Charter PDF [503 KB]


The ICAS Rules require Council to make Regulations in relation to certain areas. In general, overarching powers are in the rules whilst the more detailed specific powers are in the regulations. The ICAS Rules and Regulations need to be adhered to by members.


The ICAS Rules contain the constitution which governs all Members. Following a regulatory review the ICAS Rules were rewritten in July 2012 and were further updated in September 2014.

Regulated Activities

A Member may provide services within certain 'regulated areas', so called because there are externally imposed regulatory requirements attaching to each type of work. ICAS is authorised to license and monitor the following regulated areas:

  • Audit 
  • Insolvency
  • Investment business, which is often referred to as 'DPB licensing' - the Designated Professional Body regime.
  • Local Audit

The Memorandum of Understanding between The Financial Conduct Authority (FCA) and ICAS, as at April 2013.  This document covers exempt professional firms and authorised professional firms.

View the Memorandum of Understanding PDF [315 KB]


  • ICAS Charter Rules

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