RegulationAccounting StandardsDouble-trouble for ICAEW ‘s payout

Double-trouble for ICAEW 's payout

ICAEW's in such a rush to pay out after losing court case, they cough up twice

TS NOTED with great interest that the ICAEW is tending its wounds after a mauling in Plymouth County Court.

Mike Pallot won 1,500 smackers from the institute, after the small claims court ruled he was entitled to back-payment for overpaid subs. He’d retired and the ‘tute hadn’t made it clear that he was entitled to reduced subs.

With a bit of digging, TS was tickled to hear that in the ICAEW’s clamour to pay up, they mistakenly paid Pallot twice.

Some would argue that after the ICAEW’s intransigence Pallot would have been within his rights to hold out on ’em for a while.

But as an ethical kind of guy (he is a chartered accountant after all) he paid it back straight away.

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