Following the completion of a statutory Enquiry under S.I. 96 of 2012 – Companies (Auditing and Accounting) Act 2003 (Procedures Governing the Conduct of Section 23 Enquiries) Regulations 2012, IAASA has determined that Chartered Accountants Ireland (‘the Institute’) failed to comply with its approved investigation and disciplinary procedures. Sanctions have been applied including a fine totalling €15,000 and a requirement for the Institute to undertake a fresh investigation. IAASA’s determination and associated sanctions were confirmed by the High Court on 18 April 2016.
The full text of the Decision can be accessed here.
In a separate Enquiry under the same regulations, IAASA and the Institute have agreed Terms of Settlement on the basis that it has been determined that the Institute failed to comply with its approved investigation and disciplinary procedures. The Settlement, which details the Authority’s findings and the associated sanctions, can be viewed here.
An overview of the Enquiry process can be accessed here.