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October 26, 2020

Accounting bodies secure injunction against misleading institute

By Joe Pickard

The Institute of Chartered Accountants in England and wales (ICAEW), the Institute of Chartered Accountants of Scotland (ICAS), and Chartered Accountants Ireland have obtained a High Court injunction to ban a European organisation, known as the European Institute of Chartered Accountants (EICA), and its directors from offering misleading qualifications.

The EICA is not recognised as a chartered or qualification awarding body and so the court order has banned the company from using the descriptions ‘chartered accountants’, ‘CA’, or ‘FCA’ in relation to education, training, or certification, and has also banned the company and its directors, Muhammad Javaid Iqbal and Vesela Kirilova Stavreva, from presenting itself as having any connection to ICAEW, ICAS, or Chartered Accountants Ireland.

Spokespeople for ICAEW, ICAS and Chartered Accountants Ireland said: “The European Institute of Chartered Accountants, also known as EICA, is not recognised as a chartered or qualification awarding body and is therefore misleading people about the nature and standing of the qualifications it offers.

“It’s important that people have trust in Chartered Accountants, so we work hard to maintain the integrity of our qualifications and the description ‘Chartered Accountant’, and to prevent the public from being misled. We are pleased the High Court recognised the importance of this.

“We invest heavily in brand protection for the benefit of our membership and we do not tolerate misuse or misrepresentation. We will not hesitate to take action where necessary.”

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