Practice Assurance Compliance Manual

Our Practice Assurance Compliance Manual provides guidance and supporting documentation that will help you to establish and maintain quality control procedures within your firm.

Focusing on the requirements of the ICAEW's Practice Assurance Scheme, the manual will help you to:

assess your current performance
implement any necessary new procedures
be fully prepared for a Practice Assurance review.

Guidance that sets out how the practice assurance scheme affects ICAEW member firms, what to expect from a regulatory review plus guidance on each of the four practice assurance standards. The guidance on the standards provides both reference material and practical support to help you design and maintain quality control systems within your firm and includes links to where you can find further guidance and support if needed.
A wide range of supporting checklists that convert best practice guidance into a format that you can use throughout your practice. These include:
- compliance review checklists, such as a practice assurance compliance review, whole firm tax review or a review of clients' money procedures
- new and existing client checklists, including customer due diligence and risk assessment
- working papers checklists, such as client disengagement and document despatch
- staff related checklists, such as fit and proper, independence and annual Bribery and Criminal Finances Acts confirmations.
A wide range of supporting documents and reference material including:
- engagement letters and example accountant's reports for limited company audit exempt clients
- CPD guidance and plan
- other example letters such as disengagement and professional enquiry
- briefings on the Provision of Services Regulations, the Bribery Act 2010, the Criminal Finances Act 2017 and the General Data Protection Regulation (GDPR).

January 2022
The manual has been restructured throughout, to improve the user experience and to facilitate the new system of product delivery.

December 2018, version 12.0
This update principally dealt with:

The new guidance issued by ICAEW on their Practice Assurance Standards so that suggestions of best and acceptable practice are replaced with essentials and best practice and also split between smaller and larger firms;
Money Laundering Regulations 2017; and
General Data Protection Regulation (GDPR).

Annual subscription fee
Number of principals within the firm - 1*	£155.00
Number of principals within the firm - 2-9*	£185.00
Number of principals within the firm - 10-19*	£230.00

For 20 or more principals please contact us at sales@mercia-group.com or call on 033 0058 7141.

*Prices exclude VAT. Mercia Members receive a 10% discount.

All prices are subject to VAT. Prices are subject to change on 1 July.

Mercia online manuals are updated regularly by our technical staff and you will be notified of any significant regulatory changes by email.

Your subscription will automatically auto-renew on anniversary date, you will be notified by email before your subscription expires and offered the option to opt out of auto-renewal.

As part of our Regulatory Review services we offer a Practice Assurance Compliance Review where we visit your firm to review and report on your compliance with the Practice Assurance Scheme.

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Operating System: Windows 10.

Applications: Full version of Microsoft Office 2010, 2013 and 2016, Adobe Reader.

Note: Windows Office RT, Office Mobile and Office 365 Online are not currently supported.

Office 365 with a locally installed copy of the Office suite is supported.

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Practice Assurance Compliance Manual

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