ICAEW cuts fine for auditor's 'trivial' offences

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An accountant has succeeded in an appeal to get his ICAEW disciplinary sanctions for breaching audit regulations reduced.  

Timothy Ross Anderson from Knutsford, Cheshire had originally been severely reprimanded and fined £6,675 in 2013 for carrying out audits without arranging external hot file reviews.

Over the course of three years, he incorrectly stated on the firm’s practice assurance annual returns in January 2010 and 2011 that his firm kept a record of the audit compliance reviews, showing work done and results.

In reality, he hadn’t kept a record and only informal reviews had been carried out.

Anderson appealed the ICAEW sanctions on three grounds...

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Human rights for accountants

This is what the Skull Cracker needed - a reprimand and playstation privileges withdrawn, before being escorted back to his open prison for anger management therapy.

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Does it surprise us?

Frankly No - Professional standards & self regulation at the forefront again.

Surely the single most important standard is the ability to tell the truth. The regulations in respect of the Annual Return required honesty & it was not there.

What seems laughable is that the outcome was based partly on his "poor financial position"

The next time we criticise someone we should check first just to make sure that they are simply  "not telling the truth" in which case everything will be just absolutely fine ! And if they plead poverty then so much the better.

 

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benefits
ICAEW do a better job than the UK justice system, benefits swindlers get to pay back their theft over periods exceeding their probable life times and no jail time. Nothing to do with this but just wanted to get if off my chest.

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Dying race of solo accountants

There must be quite a few of us provincial accountants with a string of professional qualifications that make a pittance. After 6 years my fee income is three times the sum of my membership fees, PII, licences etc. Yes I'm well into a four figure gross fee income.

I don't suppose there are any sole practitioners who are wholly compliant with all the rules

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Laughing stock

ICAEW Disciplinaries are a joke.  There must be at least 50 of their members who signed off all manner of well dodgy audit reports in 2006-2008 period of banks and other financial service companies.

They are in my view wholly complicit together with dodgy bank directors in bringing the economies of the world's major countries to their knees.

And how many of those guys even get a reprimand?

NADA.

Until they go after the big fat cat auditors they are laughable, glad I am not a member.

 

 

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Your right he is not alone

The case is a warning to us all, no matter how great we think we are.

 

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Ooh, some postings have disappeared! Libel!?

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Professional Standards

Until the professional bodies take action against the guys in the big firms that signed off accounts in 2007-9 that were entirely fictitious anything else is just going to cause justified contempt.

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Banned member

Hello SJH, 

No I can confirm the removed comments are not libel - just a banned member who had made a duplicate account. 

Rachael

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