Practice review service
The Practice Review Service offers a wide range of confidential reviews, which will help your firm establish, maintain and monitor effective high-quality control procedures.
In addition to Audit Compliance and Audit Cold File Reviews, we also offer reviews specifically tailored to meet the needs of your firm.
Regular reviews can help prepare you for a visit from the ICAS Audit Monitoring team and, if required, allow your firm to take timely corrective action.
Using our independent and objective experts can provide you with the added assurance that your procedures are in line with professional requirements and help you if they need to be improved. We can also assist you after an audit monitoring visit by advising you how to implement the required improvements and assisting with any submissions to the Authorisation Committee.
|Independent and objective|
|Our expert team offer a wealth of knowledge and experience bring a new point of view to your firm.|
|Peace of mind for compliance|
|Ensuring your firm's compliance with the ever-changing professional regulations.|
|Free up valuable charge time|
|Save time on auditing and free up your staffs valuable chargeable time.|
ICAS Practice reviews
Audit compliance reviews
Minimise your compliance burden on your firm by enlisting the Practice Review Service to carry out your firm’s annual Audit Compliance Review on your behalf.
Our Audit Compliance Review covers everything from the quality of your firm's audit procedures to CPD compliance. As part of this service, you'll receive a comprehensive report with detailed recommendations for your records.
Audit cold file reviews
Our comprehensive checklist and report will highlight any major areas of weakness or non-compliance with professional requirements. We also offer feedback sessions for your audit personnel, allowing them to hear first-hand the results of reviews and to ask questions as to how improvements can be made.
Our expert team have experience in a wide range of sectors including regulated areas such as charities and credit unions. We can carry out reviews throughout the year or annually as part of an Audit Compliance Review.
Our general reviews can focus on one particular issue or cover a number of areas depending on your needs. They can take the form of informal telephone consultations, or a visit to your firm to undertake a full review and formal report.
We can provide guidance on a number of areas including:
- Compliance with Institute bye-laws, rules and guidance e.g. money laundering
- Skills and competence e.g. recruitment, appraisals, training and IES 8
- General management practices e.g. workflow arrangements
- Analysis of specific work areas within the practice e.g. accounts preparation, taxation, projections, management accounts, payroll and book-keeping services
- Preparation for a visit by the ICAS Quality Review team - highlighting areas where improvement is needed and advising on corrective action, or if you have recently been visited, reviewing, recommending and formulating an appropriate plan of action.
The ICAS Practice review service
10% discount for CAPS Members Travel time is not charged.
- £90 per hour plus expenses plus VAT
Enquire about our Practice review service
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Have Questions? Contact our Practice Team