Accounting bodies secure injunction against misleading institute
ICAEW, ICAS and Chartered Accountants Ireland have obtained a High Court injunction to ban a European organisation and its directors from misleading the public by offering chartered accountancy qualifications despite not being a recognised body.
The three accounting bodies took action after a Brussels-based organisation calling itself the European Institute of Chartered Accountants started trading online, offering misleading qualifications and professional development, as well as use of the designations FCA and CA.
The EICA is not recognised as a chartered or qualification awarding body and has been therefore misleading the public about the qualifications it offered and its status as a chartered body.
ICAEW, ICAS and Chartered Accountants Ireland obtained the High Court injunction against the EICA and its directors, Muhammad Javaid Iqbal and Vesela Kirilova Stavreva, earlier this month.
The court order bans the company and its directors from passing themselves off as having any connection to ICAEW, ICAS or Chartered Accountants Ireland. They are also banned from using the descriptions ‘chartered accountants’, ‘CA’ or ‘FCA’ in relation to the provision of education, certification or training.
Failure to comply with the order could result in the directors being held in contempt of court.
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.”
Notes to editors:
Media office contacts:
ICAEW: firstname.lastname@example.org or 07557 161315
Chartered Accountants Ireland: 087 738 6608
There are more than 1.8m chartered accountants and students around the world and 186,500 of them are members and students of ICAEW. They are talented, ethical and committed professionals, which is why all of the top 100 Global Brands employ chartered accountants.*
ICAEW promotes inclusivity, diversity and fairness. We attract talented individuals into the profession and give them the skills and values they need to build resilient businesses, economies and societies, while ensuring our planet’s resources are managed sustainably.
Founded in 1880, we have a long history of serving the public interest and we continue to work with governments, regulators and business leaders around the world. And, as an improvement regulator, we supervise and monitor over 12,000 firms, holding them, and all ICAEW members and students, to the highest standards of professional competency and conduct.
ICAEW is proud to be part of Chartered Accountants Worldwide, a global network of 750,000 members across 190 countries, which promotes the expertise and skills of chartered accountants on a global basis.
We believe that chartered accountancy can be a force for positive change. By sharing our insight, expertise and understanding we can help to create strong economies and a sustainable future for all.
*Source: CAW, 2020 – Interbrand, Best Global Brands 2019
About Chartered Accountants Ireland
Chartered Accountants Ireland is Ireland’s leading professional accountancy body, representing 28,500 influential members around the world and educating 7,000 students. The Institute aims to create opportunities for members and students, and ethical, sustainable prosperity for society.
An all-island body, Chartered Accountants Ireland was established by Royal Charter in 1888 and now has members in more than 90 countries. It is a founding member of Chartered Accountants Worldwide, the international network of over one million chartered accountants. It also plays key roles in the Global Accounting Alliance, Accountancy Europe and the International Federation of Accountants.
Chartered Accountants Ireland members provide leadership in business, the public sector and professional practice, bringing experience, expertise and strict standards to their work for, and with, businesses in every sector. Chartered Accountants Ireland engages with governments, policy makers and regulators on key issues affecting the profession and the wider economy.