Guide to candidates for appointment as Legal Adviser to ACCA s Disciplinary and Regulatory Committees

Transcription

1 Guide to candidates for appointment as Legal Adviser to ACCA s Disciplinary and Regulatory Committees This guide explains the background to ACCA s disciplinary and regulatory processes and outlines what ACCA expects of legal advisers and the procedure for appointment. It is intended to be a guide only. Please address any further queries to ACCA s Regulation Directorate (contact details can be found at the end of this document). INTRODUCTION ACCA is the global body for professional accountants, with 162,000 members and 428,000 students in 173 countries. ACCA s mission is to: provide opportunity and access to people of ability around the world and support our members throughout their careers in accounting, business and finance achieve and promote the highest professional, ethical and governance standards advance the public interest be a global leader in the profession. Underpinning ACCA s approach to regulation and discipline is the protection of the public interest, by ensuring that Chartered Certified Accountants provide the highest possible standard of service to their clients. This applies to both the technical quality of their work and their compliance with ethical standards. REGULATION AND DISCIPLINE - AN OVERVIEW Regulation ACCA is recognised as a Regulatory Body and regulates its practitioners under the UK and Irish Companies Acts, the UK Financial Services and Markets Act, the UK Insolvency Act, the UK Money Laundering Regulations and the Irish Investment Intermediaries Act. As a regulator of smaller practices, ACCA is confident in its ability to provide robust, swift, fair and independent regulation. Every practice is monitored by ACCA s Practice Monitoring Directorate. Our bye-laws, regulations and Code of Ethics and Conduct are clear and comprehensible so that members fully appreciate what is expected of them. Unsatisfactory monitoring visit outcomes are referred to regulatory assessors for review and decision on the appropriate regulatory action. Regulatory assessors may decide that no regulatory action is required, or impose conditions upon a member s ACCA April 2014

2 certificate, or decide that a case should be heard by the Admissions and Licensing Committee. Where a regulatory assessor considers that it may be appropriate for a member s certificate to be suspended, or withdrawn, the matter must be referred to the Admissions and Licensing Committee for oral hearing. Members may also request oral hearings by the Admissions and Licensing Committee in cases where the regulatory assessors have imposed conditions. Discipline ACCA s bye-laws and regulations bind members, firms, registered students and affiliates and include provisions relating to discipline. The disciplinary process may be initiated by an external complaint made to ACCA, for example from a practitioner s client, or from within ACCA itself, for example as a result of an unsatisfactory monitoring visit from ACCA s Practice Monitoring Directorate. In all instances the Professional Conduct Directorate investigates the complaint. Once the investigation is complete, a report is prepared for consideration by an independent disciplinary assessor. The role of disciplinary assessor is to decide whether there is a case to answer and, if so, whether to refer the case to the Disciplinary Committee. The Disciplinary Committee s function is to decide whether a complaint has been proved or not, and if it has, to decide what the appropriate sanction is. Sanctions can include exclusion from membership, a fine of up to 50,000, payment of compensation of up to 1,000 to the complainant, and an order that a member be required to reduce or waive his fees to the complainant. ACCA s Appeal Committee may hear appeals from the Admissions and Licensing Committee, the Disciplinary Committee or the Health Committee. A Health Committee determines whether a relevant person is unfit to participate in the process or proceedings, and if found to be unfit, whether the process or proceedings shall be withdrawn, rest on file or be deferred. ACCA S APPROACH TO REGULATION AND DISCIPLINE Over recent years ACCA has gained recognition for the progressive and innovative approach which it has taken to disciplinary and regulatory matters. This approach has enabled ACCA to stand ahead of its fellow professional bodies in terms of openness, efficiency and accountability, and has ensured that ACCA has kept abreast of changing public and political expectations and legal requirements. ACCA is confident that it is fully compliant with the letter and spirit of the European 2

3 Convention on Human Rights and Fundamental Freedoms. members have long had the right to an oral hearing before ACCA s Disciplinary and Appeal Committees. In 2001 this right was extended to hearings of the Admissions and Licensing Committee where the member s licence is at risk, and in 2007 to all hearings of the Admissions and Licensing Committee. ACCA s Disciplinary and Appeal Committees have been sitting in public since In 2001 this right was extended to hearings of the Admissions and Licensing Committee where the member s licence is at risk, and in 2007 to all hearings of the Admissions and Licensing Committee. to ensure independence and impartiality, ACCA has substantial lay membership on its disciplinary and regulatory committees the members of the disciplinary and regulatory committees are all drawn from a single panel ensuring that each hearing has the requisite technical expertise and lay membership in recognition of the argument that rule makers should not also be rule enforcers, ACCA s Council members are not permitted to sit as panel members for the duration of their Council membership, or for three years afterwards. THE ACCA REGULATORY BOARD In 2008, the introduction of the ACCA Regulatory Board (the Board) brought together all of ACCA s governance and oversight arrangements for regulation and discipline into a single entity. This allows ACCA s regulatory and disciplinary arrangements to operate with appropriate independence from its other activities. The Board comprises an independent lay (i.e. nonaccountant) chairman, six lay members and three Council members. Further details about the members of the Board can be found online at: essional-standards/regulatory-board/memberprofiles.html The Board reports annually to ACCA s governing Council on the operation of ACCA s disciplinary and regulatory procedures. THE APPOINTMENTS SUB-COMMITTEE The Appointments Sub-committee is responsible for appointing panel members, chairmen and legal advisers. The objective of the Sub-committee is to safeguard the integrity of the disciplinary and regulatory processes by: ensuring there is an appropriate number of experienced panel members, chairmen 3

4 and legal advisers available at all times, providing an appropriate type and level of experience monitoring the performance of panel members, chairmen and legal advisers promoting consistency in the performance of panel members, chairmen and legal advisers identifying training and support needs of all panel members, chairmen and legal advisers encouraging and promoting best practice. THE ROLE OF LEGAL ADVISERS ACCA s legal advisers play a crucial role in ensuring that ACCA s objectives of fairness, impartiality and transparency are achieved in its disciplinary and regulatory regime. To reflect ACCA s commitment to accountability and transparency, all legal advisers have written contracts and are bound by a Code of Conduct. The Regulations provide that: legal advisers are appointed for an initial term of five years, with the possibility of renewal for a further two, five year terms committees each have a quorum of three, including the chairman. Of the three, two must be non-accountants and one must be an accountant at each hearing there is an independent legal adviser present to advise on procedural aspects of the hearing subject to provisions that prevent conflict of interest, each panel member is eligible to sit as a member of each of the Disciplinary, Admissions and Licensing, DEVELOPMENT AND APPRAISALS The Appointments Sub-committee is responsible for inviting the renewal of contracts of panel members, chairmen and legal advisers. CONSTITUTIONAL REQUIREMENTS The constitutional requirements for ACCA s legal advisers are set out in ACCA s Regulatory Board and Committee Regulations. The performance of panel members, chairmen and legal advisers is monitored by the Subcommittee in accordance with the Appointments Sub-committee Appraisal Policy. As set out in the policy, the Appointments Sub-committee shall observe a sample of committee hearings to appraise the performance of panel members, chairmen and 4

5 legal advisers, and is provided annually with statistics detailing the number of meetings of each committee and the number of meetings attended by each panel member, chairman and legal adviser. When a member of the Appointments Subcommittee is not present, a performance assessment of the panel members and legal adviser is made by the chairman. The Appointments Sub-committee encourages the chairman to comment in writing in strict confidence on the performance of panel members and the legal adviser. TIME COMMITMENT, REMUNERATION AND INDEMNITY The size of the panel averages at around 60 panel members including 12 chairmen. There is currently a panel of 10 legal advisers. Generally ACCA s disciplinary and regulatory committees are held in London. However, they also take place from time to time in Dublin, and legal advisers may be invited to attend either location. the full day (beginning at 9.30 am). Case papers may be voluminous and must to be read in advance of the hearing. Panel members, chairmen and legal advisers will also be required to confirm immediately on receipt of papers whether they are conflicted from sitting. Legal advisers are invited to sit approximately 15 times a year. However, this cannot be guaranteed. Legal advisers are paid an attendance allowance of 900 (inclusive of VAT) for each initial hearing day, and 450 (inclusive of VAT) for subsequent days plus expenses. The fee includes reading the papers in advance, any pre hearing/post hearing matters, recording the committee s decisions and travel time. Legal advisers are also expected to attend regular training days and a twice yearly meeting of Chairmen and Legal Advisers. For these meetings ACCA will pay a fee of 400 (inclusive of VAT) plus expenses for each such attendance. There is a committee hearing in London approximately three times a week. There are approximately two/three cases per hearing, but complex cases may last longer. When agreeing to sit, panel members, chairmen and legal advisers are expected to be available for ACCA s Council has the power to vary remuneration from time to time. For the benefit of all its legal advisers, ACCA indemnifies each person from all liability, expenses or costs which, by virtue of any rule 5

6 of law, would otherwise attach to him or her in relation to ACCA, unless such liability arises from his or her own wilful default. APPLICATION FOR APPOINTMENT Legal Advisers All candidates must complete the Application form for appointment as legal adviser to ACCA s disciplinary and regulatory committees. A copy of the form and all related documents can be downloaded from ACCA s website: nt or requested by telephone on The application form comprises of twelve parts, as outlined below: Part 1: Personal details Part 2: Previous applications Part 3: How you found out about this post Part 4: References the names of two referees who will be asked to provide an assessment against the same competencies as set out in part 9 of the application form. Therefore, it is important that the referees have a good and recent knowledge of you. Part 5: Your status as a candidate Part 6: Career history Part 7: Other positions held Part 8: Criminal convictions, police investigations, conduct or disciplinary investigations Part 9: Evidence of relevant experience candidates are required to provide evidence of their possession of the competencies we are seeking. In your description please include one specific example only of a situation where you had to demonstrate the particular competency and how you did so. Please write no more than 300 words for each competency. The Appointments Sub-committee will make its decision on whether or not to invite you to interview based on the information you provide in this section. Therefore, it is important that you complete this section as fully and carefully as possible. Part 10: Additional information Part 11: Declaration of interests Part 12: Declaration. Monitoring information form The monitoring form will not be forwarded to, or seen by, the Appointments Sub-committee at any stage. It is retained by ACCA and will be used solely for the purpose of overall analysis. 6

7 ACCA is committed to equality in its recruitment process and will only use the information received to check that all candidates receive equal treatment regardless of age, gender, disability, race, colour or belief. You are not obliged to fill in the questionnaire but, should you choose to do so, your answers will be treated in complete confidence. However, please note that by supplying this information you are giving consent to ACCA to store this information on either computer or manual files and to use it for statistical purposes on an anonymous and confidential basis. Next steps Once all applications have been received they will be forwarded to the Appointments Subcommittee for shortlisting. After shortlisting, ACCA will write to all candidates to confirm the outcome of their application and, where appropriate, will make arrangements for interview. Interviews will take place week commencing 8 September After interview, ACCA will write to all candidates to confirm whether their application has been successful. CONTACT Submitting your application Completed application forms should be returned either by to panelmemberrecruitment@accaglobal.com OR by post to Rheanneon Fuller, Governance - Regulation, ACCA, 29 Lincoln s Inn Fields, WC2A 3EE. Rheanneon Fuller - Regulation Officer Governance - Regulation ACCA 29 Lincoln s Inn Fields London WC2A 3EE tel: +44 (0) fax: rheanneon.fuller@accaglobal.com Applications must arrive no later than 12 noon Thursday 26 June Incomplete or late applications will not be accepted. Your application will be acknowledged by within 3 working days of receipt. 7