PracticeAccounting FirmsDisciplinary body set for launch

Disciplinary body set for launch

The new disciplinary body for accountants, intended to replace the Joint Disciplinary Scheme, could be up and running within two months.

Link: Industry to face disciplinary shake up

The Investigation and Discipline Board, part of the Accountancy Foundation, has told the government’s review of accountancy, that an independent body to deal with misconduct is needed and that it is best placed to do the job. Originally expected to take over from the JDS last year, the IDB is now only weeks from being ready.

It would operate in parallel with the JDS until it had finished outstanding cases. However, the report expected next week from the DTI on accountancy regulation could change all that if it believes new structures are needed.In submissions to the DTI the IDB made its pitch for the job. Mike Fogden, chairman of the board, said: ‘The IDB has devoted considerable efforts to ensuring there is a disciplinary scheme deal with misconduct.’

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