Insolvent accountants must pay costs to the ICAEW
WHY OH WHY must the ICAEW kick members when they are down?
In the last month the institute has agreed with three of its members that they PAY COSTS of more than £450 each regarding complaints that they entered into individual voluntary arrangements – in other words they were declared insolvent.
I moaned about this back in August, and quite frankly it’s still getting on my goat.
I appreciate that it doesn’t look good if you can’t manage your own finances, let alone those of your clients…so if it’s such a big problem then take away their license.
If that’s not an appropriate route then what on earth is the point of fining someone who is skint? Help them get back on their feet.
Struggling ICAEW members do have CABA to turn to. CABA, who I had the pleasure of meeting with recently, are well-prepared to help members with financial, or emotional difficulties.