Referrals guidance approved by ICAS’ Regulation Board
ICAS has published guidance approved by the Regulation Board which provides information on the roles of ICAS’ Regulatory Committees and how they interact with one another, to promote better understanding, as well as more transparent and consistent decision-making.
The Regulation Board has, in accordance with powers in ICAS’ General Regulations, established two Regulatory Committees: (i) the Authorisation Committee, and (ii) the Investigation Committee. Each of these bodies has a convener and is comprised separately of members who are either Chartered Accountants or lay members.
The Authorisation Committee oversees ICAS’ functions in relation to regulatory licences, including practising certificates, audit registrations and insolvency licences. The Investigation Committee is responsible for investigating and determining complaints made against ICAS members, firms, students and affiliates.
When fulfilling their roles, it will sometimes be appropriate for one committee to make a referral to the other committee. This will usually be due to the matter falling more clearly within the remit of the ‘receiving committee’ than the ‘referring committee’, and with the receiving committee having powers which are likely to be more effective in dealing with the matter.
The guidance approved by the Regulation Board provides information on how the referral process works, explaining how risks are mitigated, and providing examples. It will be used by the both the committees as part of their decision-making processes.
If you would like more information, please contact either ICAS’ Regulatory Authorisations Team (regulatoryauthorisations@icas.com) or the Investigations Teams (complaints@icas.com)
