Parliament has confirmed that the Institute of Chartered Accountants (ICAEW) will operate as a regulator of probate services and alternative business structures (ABSs) from September.

The ability for member firms to be able to offer wider probate services has long been sought by the ICAEW. In December 2013, it was announced the ICAEW would gain the powers following an agreement with the Legal Services Board. The statutory order formally confirms the institute’s appointment.