Institute of Certified Bookkeepers statement on FCA public censure and AML supervision improvements
The Institute of Certified Bookkeepers (ICB) today acknowledges the Financial Conduct Authority’s (FCA) decision to publicly censure ICB under the OPBAS Regulations 2017 in relation to supervisory failings during the period 1 January 2022 to 26 July 2023.
ICB is pleased to confirm that the issues referenced are historic and that its AML supervision capability and governance have been substantially strengthened since that time. The FCA’s Notice recognises that ICB “has engaged constructively”, “worked to address the concerns”, and “significantly improved”.
ICB is proud to be one of the UK’s largest accountancy professional body AML supervisors and the fourth largest by supervised population. This censure relates to ICB’s historic supervisory arrangements and does not constitute findings of wrongdoing by ICB members.
Since appointing ICB’s new CEO in early 2023, leadership focus has been on strengthening AML governance and operational supervision. This has included personnel changes and tighter controls with board-level oversight, including active involvement from ICB’s co-founders. For continuity, ICB has also expanded the role of trusted compliance expert Steve Hardwick (ICB Director of Compliance until 2020) to lead independent AML reviews and embed a consistently applied, risk-based approach across ICB’s supervisory activity.
Ami Copeland, CEO of ICB, said:
“We accept the FCA’s findings and recognise the importance of consistently robust, risk-based AML supervision. The period referenced in the Notice does not reflect where ICB is today. Since becoming CEO in January 2023, strengthening AML governance and supervision has been a core remit, and we have made significant changes to our team, our oversight, and the way we evidence and deliver AML supervision.”
“We are grateful to the FCA and OPBAS for the constructive, supportive and caring manner in which they conducted their work, and for the collaborative approach as these matters were examined and addressed. That engagement gives us confidence as the UK moves toward a reformed AML supervisory landscape, with the FCA expected to assume an expanded role in the supervision of bookkeeping services.”
ICB remains committed to protecting the public interest and to supporting its members with clear guidance, practical tools, and an education-led approach - helping bookkeepers meet their obligations confidently, consistently, and to a high standard.
-
The UK Government announced in October 2025 its decision to reform AML/CTF supervision for professional services, with the FCA expected to take on a single-supervisor role, and a consultation on implementation published in November 2025. (FCA)
