From 1 January 2015, CICAIR implemented an annual monitoring and audit programme for Approved Inspectors. Renewal of the Notice of Approval is dependent on satisfactory completion of the annual monitoring and audit process.
All Approved Inspectors are required to return a monitoring form to CICAIR on an annual basis.
All Approved Inspectors will be audited by CICAIR at their premises at least once every five years at a time decided by CICAIR.
Monitoring and Re-Approvals Protocol
The protocol that sets out how CICAIR will conduct annual monitoring and audits of Approved Inspectors can be viewed here.
Please note that all fees are non-refundable.
Audit and Re-Approval Fee
£5,000 (plus VAT) payable prior to the five-yearly audit commencing. Any additional audit days that are required during the approval period will be charged at £2,000 (plus VAT) per audit day and will be payable prior to the audit taking place.
The registration fee is 0.9% of the Approved Inspector’s turnover and is calculated and payable annually over the five year approval period. The minimum registration fee is £1,000 (plus VAT) per annum. The registration fee is calculated on the most recently declared turnover figures provided as part of the annual monitoring process.
• An Approved Inspector with a turnover of £100,000 will pay a registration fee of £1,000 (plus VAT)
• An Approved Inspector with a turnover of £500,000 will pay a registration fee of £1,000 (plus VAT)
• An Approved Inspector with a turnover of £1,000,000 will pay a registration fee of £1,800 (plus VAT)
Approved Inspectors must notify CICAIR before they make any substantive changes to the Approved Inspector business and must seek approval prior to the initiation of any proposed changes. CICAIR has published a Substantive Change Protocol which sets out how CICAIR will consider substantive changes proposed by an Approved Inspector. It is the Approved Inspector’s responsibility to follow this protocol which can be viewed here.
There is a charge of £150 (plus VAT), payable to CICAIR Limited, to change the registered name of an Approved Inspector. When requesting a change, an Approved Inspector should submit copies of the change of name certificate issued by Companies House and the revised insurance documentation. CICAIR will issue a new Notice of Approval, amend the Register and notify the relevant authorities.