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August 2, 2010

Disciplinary board seeks more transparency

The UK’s Accountancy and Actuarial Discipline Board (AADB) has issued draft guidance designed to create more transparency in the board’s decision making process regarding complaints filed under its accountancy scheme.

The guidance follows changes made to the AADB accountancy scheme earlier this year.

One key change related to the test applied following an investigation, to help the board decide whether to refer a formal complaint to a disciplinary tribunal.

The amended accountancy scheme introduces for the first time a consideration of the public interest in proceeding with a formal complaint at this later stage of the process. A public interest test has always been applied when deciding whether or not to begin an initial investigation.

The new guidance is designed to ensure viable cases progress to a disciplinary hearing unless it is clearly not in the public interest for it to do so.

Responses to the consultation are requested by 22 October 2010.

 

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