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.

The Rules

The ICAS Rules contain the constitution which governs all Members. Following a review, the ICAS Rules were amended in August 2018.

View the ICAS Rules August 2018

View the ICAS Rules September 2014

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
  • Public Practice Regulations
  • Investigation Regulations March 2018
  • Investigation Regulations August 2018
  • Clients' Money Regulations
  • CPD Regulations
  • Discipline and Appeal Tribunal Regulations 
  • Examination Regulations
  • Education Regulations
  • Admission Regulations
  • Independent Examiner Regulations
  • 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:



    Investment business, Designated Professional Body (DPB) licensing

    Local Audit

    Anti Money Laundering


    Memorandum of Understanding

    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.


    • ICAS Charter Rules

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