How to survive a disciplinary hearing – advice for accountants
Publication: Accountancy Live
As an accountant or an accounting firm, the prospect of a disciplinary hearing in front of your professional body or even more serious, the accounting watchdog itself – the Financial Reporting Council – can be daunting. Tracy Lacey-Smith, partner at SA Law, examines the key issues to consider when preparing for a disciplinary hearing.
There is no doubt that professional and regulatory bodies are essential – only a few months ago the accounting regulator, the Financial Reporting Council (FRC) – banned the former finance director of Healthcare Locums from working as an accountant as it was revealed she had created a black hole in the accounts which almost caused the company to collapse.The role of these bodies to investigate complaints and discipline individuals and firms where necessary has helped to ensure the accountancy profession remains at a very high standard.
However, this complaints procedure can be complex and a potential minefield if those involved are not aware of the process or do not have access to the right advice.
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