The number of new complaints received during 2021 fell slightly from 2020 with 948 complaints received compared to 976 the year before. This has improved since 2019 when there were 1,117 complaints against ICAEW accountants, according to the latest ICAEW Regulatory and Conduct Annual Report for 2021/22.

Over 2021, 16 ICAEW chartered accountants were excluded from ICAEW membership while 60 ICAEW chartered accountants and firms received severe reprimands. Fines of £2.1m were issued as a result of failures to provide adequate tax and audit services, although these figures included costs.

During the last year, 1,512 cases were investigated and of these, 239 (16%) were considered by the Investigation Committee (IC) with the remaining investigation files being closed with no action taken. In total, 34 of the 239 cases considered by the IC were cases where the complainant was challenging the assessment by the case manager that there was no potential liability to disciplinary action. After reviewing the evidence, the IC rejected all of these challenges.