Anyone can call themselves an accountant. There’s no legal requirement to hold a qualification, pass an exam, or answer to anyone. That might come as a surprise, but it’s true – and it’s exactly why choosing a regulated accountant makes such a significant difference.
At Smethurst & Co, we’re regulated by the Institute of Chartered Accountants in England and Wales (ICAEW). Our qualified accountants hold the ACA designation – one of the most respected professional qualifications in the world.
What does ICAEW regulation actually mean?
The ICAEW is one of the UK’s leading professional bodies for accountants. Firms regulated by the ICAEW aren’t just members of a professional club – they’re held to a defined set of standards and code of ethics that protect the people they work with.
To become an ACA-qualified Chartered Accountant, individuals must complete a rigorous programme of exams, practical training, and professional development. It typically takes three to five years to qualify, and that’s before any specialist experience on top.
Once qualified, ICAEW members must keep their knowledge up to date through ongoing continuing professional development, adhere to a strict code of ethics, and maintain professional indemnity insurance. That last one is important – it means that if something does go wrong, you have protection.
Your money and your data are in safe hands
ICAEW-regulated firms are required to hold client money in accordance with strict rules and to carry professional indemnity insurance. That means if an error occurs that causes you financial loss, there’s a structured route to recourse – not just a conversation with someone who may or may not have a policy in place.
In a world where data security and financial trust have never mattered more, knowing that your accountant operates within a regulated framework isn’t a nice-to-have. It’s genuinely important.
Regulation means up-to-date knowledge
Tax law, employment legislation, and financial reporting standards change constantly. ICAEW members are required to maintain their professional development as a condition of their membership. That means when you ask us a question, you’re getting an answer grounded in current knowledge – not something that was accurate five years ago and hasn’t been revisited since.
What this means in practice at Smethurst & Co
We’ve been serving businesses and individuals across the region since 1946. In that time, a lot has changed – tax rules, technology, the way businesses operate – but our commitment to professional standards hasn’t.
Being ICAEW-regulated isn’t something we treat as a badge for the website. It reflects how we work – with the knowledge, the ethical standards, and the accountability that you should expect from anyone handling your finances.
When you work with us, you’re not just getting experienced people who know their numbers. You’re getting the protection and peace of mind that comes with a regulated firm.
Want to find out more about how we can help? Book a free initial meeting or call us on 01472 357125.
