ICAEW gains final approval to run probate and ABSs

FINAL APPROVAL has been handed to the ICAEW in its bid to be a regulator of probate services and a licensing authority for alternative business structures.

The Lord Chancellor gave signoff to the institute’s attempt to enable its members to offer a greater range of services, following Legal Services Board approval in December. The lord chancellor’s order will be laid in parliament “in due course”.

Vernon Soare, ICAEW executive director, said: “Today’s decision is great news for consumers looking for probate services who will now be able to use appropriately qualified ICAEW chartered accountants as an alternative to traditional providers.

“Between now and the date when the relevant orders are approved by Parliament, we will be working closely with ICAEW member firms to ensure they have access to the training and support they need to be able to offer these new services to consumers.”