Under the model of independent statutory oversight set out in the Companies Act 2014 the Authority’s role is to supervise how the PABs regulate and monitor their members which includes the PABs complaints handling, investigation and disciplinary processes
Primary responsibility for the receipt and investigation of complaints relating to the prescribed accountancy bodies’ (‘PABs) members/member firms resides with the PABs, who are required to process complaints in accordance with approved procedures.
Extent of IAASA’s powers in relation to complaint’s
Complainants and prospective complainants are requested to note that IAASA’s role in the complaints process is to supervise the PABs compliance with their approved investigation and disciplinary procedures;that IAASA has no role in facilitating, or participating in, the resolution of individual complaints.
- IAASA does not operate a system of final appeal against decisions taken by the PABs’ complaints, disciplinary or appeals committees/tribunals
- Lodging a complaint with IAASA is not, and is not designed to be, a substitute for civil proceedings.