Take note of the latest disciplinary cases to ensure you or your firm are not making similar mistakes.
Since the last update, three Tribunal Committee tribunal orders, eleven consent orders from the Conduct Committee, and one Appeal Committee panel order have been published.
Included within the latest published orders are the following.
- Engaging in public practice without holding a practising certificate contrary to Principal Bye-law 51a.
- Signing audit reports of “X” Limited for two years when there was a breach of ISA 500 due to the failure to obtain sufficient and appropriate audit evidence in relation to income and expenditure audit testing; and/or, consolidation/group accounts; and/or, cash at bank; and/or, related parties; and/or restricted funds, and also signing an Independent Accountant’s report on the financial statements of “X” Ltd for one year stating that the company met the criteria enabling it to disapply the requirement to have an audit of the financial statements for the year ended 2020, specified in section 84(3)(c) of the Co-operative and Community Benefits Society Act 2014, when it did not. This was in breach of the requirements of R113.1 of the Code of Ethics (effective 1 January 2020).
- Acting contrary to R2103.1 b) of the fundamental principle of Professional Competence and Due Care in the Insolvency Code of Ethics (effective from 1 May 2020) for failing, in their capacity as Liquidator of “X” Limited, to conduct investigations in accordance with Paragraph 8 and /or Paragraph 9 of Statement of Insolvency Practice 2 effective from 6 April 2016.
- Acting contrary to R2103.1 b) of the fundamental principle of Professional Competence and Due Care in the Insolvency Code of Ethics (effective from 1 May 2020) for failing to take reasonable steps to ensure that the RP15 forms were submitted in nine liquidations to the Redundancy Payments Service as soon as was reasonably practicable, as required by Section 125(3) of the Pension Schemes Act 1993.
Further details can be found on our Disciplinary Database or please visit our Public Hearings page.
Useful links
Please make use of the following resources to ensure you are up to date with the latest regulatory information and news.
- ICAEW Ethics hub
- ICAEW’s Regulation hub
- Disciplinary Bye-laws
- Regulatory & Conduct news - subscribe to stay up to date on latest regulatory news or follow us on our dedicated Regulation and Conduct LinkedIn channel.