Accountancy bodies agree new powers for watchdog

The UK and Irish accountancy bodies have agreed to changes to it disciplinary body, although discussions around the new protocol are still ongoing.

The Consultative Committee of Accountancy Bodies (CCAB), the accountancy profession’s umbrella group, agreed the proposed changes to the AADB Scheme.

The AADB, headed by counsel Cameron Scott (pictured), had initially flagged up required changes to itself after it lost its first case, Mayflower back in 2007.

October 2008 saw the body call for the power to conduct its own preliminary investigations.

“We will participate actively in the discussions with the AADB to agree a protocol on the proposed new power of the AADB to conduct preliminary enquiries and welcome the opportunity to contribute to the future success of the scheme,” said CCAB chairman Martin Hagen.

Further reading:

AADB receives powers to conduct preliminary investigations

AADB calls for power to conduct its own investigations