UK Audit Qualification Withdrawn

UK Audit Qualification Withdrawn

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I have recently received a letter from my accountancy body saying that they are required to withdraw my UK audit qualification as it was awarded in error which means I cannot take any audit appointment and have to resign from all my current appointments. Clearly this is going to be a significant loss of fee income for my practice and I might end up winding up the practice as I have to make the audit staff redundant and also face the risk of being sued by my audit clients particularly by those whom I have committed to provide the audited accounts within next couple of weeks.

The reason given in the letter for withdrawal is the non-completion of UK law exam at the Fundamental level for which I was given exemption based on my overseas qualification. However I passed all the my advanced and  professional stage in the UK and have been working in practice for more than 15 years and well aware of UK laws and regulations.

Just wondering if someone else is in a similar situation or has come across any thing like this in the past. Any comments or help would be much appreciated.

Replies (8)

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By james_hampton
27th Feb 2014 00:03

Couldn't you just ask to sit the exam?

Or else couldn't you subcontract the signing of the audit report to another audit firm? Winding up the practice seems a bit of an extreme situation. Whatever happens good luck, and I agree it does sound a bit daft from your institute, surely they would have known before you applied

 

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Replying to jcace:
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By Calmdown
14th Mar 2014 16:16

Utterly unprofessional
How on earth a professional accounting body can do so? Now they might come up saying there was error in your exam marking and you were actually failed but due to error our system showed you as pass. You should challenge their decision to withdraw.

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By Calmdown
14th Mar 2014 18:16

Sent u pm
I have sent you PM (message ) please check your accounting web inbox and response

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By Calmdown
14th Mar 2014 18:21

Sent u pm
I have sent you PM (message ) please check your accounting web inbox and response.

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By him123
15th Mar 2014 17:12

Withdraw UK Audit Qualification

I have received similar letter recently received a letter from my accountancy body saying that they are required to withdraw my UK audit qualification as it was awarded in error which means I cannot take any audit appointment and have to resign from all my current appointments. 

Further clarified from body that withdrawal is the non-completion of UK law &  tax exam at the Fundamental level for which I was given exemption based on my overseas qualification. Body is saying that this is requirement of Companies Act 2006.

We should fight who are having similar situation jointly.

Laws can not be applied retrospectively and should be applied prospectively as a general principal. Please contact me in my personal message (PM) for a joint effort.

 

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By mrme89
15th Mar 2014 17:56

Makes a mockery of their application process to do this now.

Hope you are successful on your appeal.

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By Calmdown
12th Apr 2014 10:36

UK Audit Qualification withdrawn

 

Lets join hand together to make the case stronger. I request all who have received the similar letter to come forward and form a group to deal with this situation.

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By bluelagoon
12th Apr 2014 21:45

As reported by SWAT

It appears that the similar letters have been sent to more members. Please see the following link as reported by SWAT.

https://www.swat.co.uk/AccountancyNews/AccountancyNewsArticle/tabid/189/...

 

 

 

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