Following ‘extensive discussions’ with the Financial Reporting Council, ICAS claimed that a solution has been found which ‘satisfactorily’ addresses two major sticking points.
ICAS has always stated that the AIDB should have the powers to draw evidence from non-members in the disciplinary process, and has always wanted greater cost-recovery powers.
‘We asked the AIDB to consider implementing the ICAS “polluter-must-pay” cost recovery model,’ said ICAS president, Ian Robertson. ‘In addition, ICAS will continue its work to gain statutory coercive powers for the compulsion of witness attendance and evidence giving at disciplinary hearings.’
The institute has written to trade secretary, Patricia Hewitt, to pressurise the government into offering the additional powers. ‘ICAS’ track record of successfully lobbying Government is well documented and we will continue this work,’ said Robertson.
The average cost of fraud increased 35.4% to £3.9m in 2016, compared to 2015 data
Harrison Beale & Owen will (HB&O) have a new chairman and managing director at the helm for 2017
Satvir Bungar promoted to managing director in the mergers and acquisitions team
Carolyn Brown appointed as the first head of client legal services practice RSM Legal