An accountant or actuary may be a member of one of a number of different bodies including the Institute of Chartered Accountants (there are separate bodies for England and Wales, and Scotland and Ireland), the Institute of Chartered Certified Accountants, the Chartered Institute of Management Accountants, the Chartered Institute of Public Finance and Accountancy, and the Faculty and Institute of Actuaries. Each body has its own complaints and disciplinary procedures where members' professional and/or ethical standards fall below what is required. Sanctions include exclusion from membership.
In more serious cases which involve the "public interest" the accountancy body concerned may refer the matter to the Accountancy and Actuarial Discipline Board (the AADB). Alternatively the AADB may call in to itself a serious case which has come to its attention. The role of the AADB involves the investigation of such cases and, where appropriate, the appointment of a Disciplinary Tribunal, chaired by a lawyer, to hear the case. The hearing may include examination, cross-examination and re-examination of witnesses, and submissions on behalf of the parties. The Disciplinary Tribunal will report upon its findings, setting out its decision and reasons for it, and may impose penalties including a reprimand, fines, costs, and revocation for a prescribed period of a practising certificate, authorisation or licence. Leave to appeal against a Disciplinary Tribunal decision may be granted on limited grounds. If leave is granted, the AADB will set up an Appeal Tribunal.
