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.
- General Regulations PDF [412 KB]
- Public Practice Regulations PDF [145 KB]
- Investigation Regulations PDF [190 KB]
- Clients' Money Regulations PDF [228 KB]
- CPD Regulations PDF [105 KB]
- Discipline and Appeal Regulations PDF [190 KB]
- Examination Regulations PDF [108 KB]
- Education Regulations PDF [61 KB]
- Admission Regulations PDF [128 KB]
- Independent Examiner Regulations PDF [175 KB]
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.
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:
- Investment business, which is often referred to as 'DPB licensing' - the Designated Professional Body regime.
- Local Audit
- View the Audit Regulations applicable to 31 March 2017 PDF [799 KB]
- View the Audit Regulations applicable from 1 April 2017 PDF [954 KB]. These have been updated to reflect changes to Irish legislation following the EU Audit reforms:
- View the Local Public Audit Regulations PDF [277 KB]
- View the DPB Handbook PDF [979 KB]
- View the Atol Regulations PDF [202 KB]
- View the PII Regulations PDF [216 KB]
- View the Insolvency Regulations PDF [143 KB]
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.