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Guidelines for the RABs when performing Investigation and Disciplinary Functions

IAASA has recently finalised guidelines for the recognised accountancy bodies which apply when they perform investigation and disciplinary functions in respect of their accountant and auditor members. The effective date of these guidelines is 1 January 2022.


The provision of accounting and auditing services to clients places accountants in a special position of trust. Clients, shareholders, and other stakeholders rely on the output of accountants to make economic decisions, to administer assets and to assist them in meeting their compliance obligations. Where an accountant fails to maintain the standards reasonably expected of them, they should be subject to timely, proportionate and effective actions. The operation of an investigation and disciplinary function is a key mechanism used by a recognised accountancy body to hold its members to account.


The four recognised accountancy bodies in Ireland are ACCA, Chartered Accountants Ireland, CPA Ireland and ICAS. They operate their investigation and disciplinary functions in accordance with procedures approved by IAASA, relevant provisions of the Companies Act 2014 and IAASA’s guidelines.


A copy of ‘Guidelines for the Recognised Accountancy Bodies when performing Investigation and Disciplinary Functions’ is available on IAASA’s website here.


You can find an explainer video about the guidelines on IAASA’s LinkedIn page here.