Having just read this thread https://www.accountingweb.co.uk/article/icaew-reprimands-northern-rock-fd/518409 am I alone in sitting jaw open at this ? I remember 30 odd years ago when I was training some poor sod got excluded for fiddling his rail fare or something similarly trivial and fail to tick a box on your audit planning schedule and whooaa youre in trouble. I give up.
Related resources
Replies (7)
Please login or register to join the discussion.
Hardly surprising really
If you are small and don't matter, ICAEW hammer you. If you are a large firm, they don't.
Bit like the riots - get jailed for receiving a stolen T-shirt and then our "honourable" MPs nick vast sums from the public purse and most of them just get asked to pay some of it back.
Cynical? Moi?
Easy
There is one thing that is absolutely guaranteed to get you thrown out of the institute. The most heinous crime that you can commit, apparently.
Don't pay your subs.
Yup, break the law and you're ok but don't break the ICAEW rules
I'm afraid it's the usual "box ticking" mentality where they go after the easy targets immediately and leave the big cases in the "too hard" file until they can't ignore them any longer.
If you commit a heinous offence like not paying your subs, not completing your annual return, not replying to their correspondence etc., you'll get a disproportional fine and probably struck off.
If, however, you are an avid box-ticker and play within the institutes rules, you'll be barely punished, even with complaints against you, criminal convictions, etc.
One guy I used to work for was constantly being complained about for dodgy work, over-charging, etc., Institute did nothing, then he was convicted of stealing client's monies and got put in prison, institute kept delaying the disciplinary hearing, even after he was released. Eventually he got struck off - what for? Not paying his ICAEW subscription - I kid you not!
i need to reply faster to these things!
I was going to put all that!
It is the first page i always look at when accountancy magazine thuds on the door mat and yes the most frequent (if not only reason) is not paying your subs.
This month's highlight?
Conviction for fraud, acquiring criminal property, theft etc etc = excluded from membership but allowed to REAPPLY for membersip after five years!
I remember someone being excluded for urinating in public.
I always feel sorry for the poor bu**ers being fined for going into an IVA, talk about kicking a man when he's down. Or woman as they kindly only refer to" a member"