The ICAEW has made public its annual report on insolvency regulation to the Department of Trade and Industry for the year to 31 December 2003.

In 2003, the institute, the largest insolvency regulator in the UK, met its overall target to conduct insolvency monitoring visits to all insolvency practitioners within a six-year cycle.

The Joint Insolvency Monitoring Unit commenced 150 insolvency monitoring visits to insolvency practitioners licensed by the institute. Following consideration of reports on completed visits, the Insolvency Licensing Committee imposed a restriction on the licence holder in five instances and in one case the committee instructed that the licence be withdrawn.