RegulationAccounting StandardsAccountancy bodies agree new powers for watchdog

Accountancy bodies agree new powers for watchdog

Cameron Scott's AADB gains new powers to investigate at a preliminary stage agreed - although new protocol requires more talks

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

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