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Strategic Outcome: Clients and employers of professionally qualified accountants and actuaries and of accountancy and actuarial firms can rely on them to act with integrity and competence, having regard to the public interest.
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Supporting Outcomes:
(which contribute to the Strategic Outcome)
Legislative provisions relating to the regulation of accountants and actuaries are effective and proportionate and appropriately implemented.
The regulatory framework promotes the integrity and competence of the accountancy and actuarial professions.
High standards of practice, having regard to the public interest, are achieved by accountants and actuaries, and the firms to which they belong.
Compliance with professional and ethical standards for accountants and actuaries is appropriately monitored and enforced.
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Professional Oversight Board
The Professional Oversight Board provides independent oversight of the regulation of accountants and actuaries by their respective professional bodies. It provides statutory oversight of the regulation of the auditing profession by the recognised supervisory and qualifying bodies, and, through the Audit Inspection Unit, monitors the quality of the auditing function in relation to economically significant entities. Links POB website
Accountancy and Actuarial Discipline Board
The Accountancy and Actuarial Discipline Board is the independent investigative and disciplinary body for accountants and actuaries in the UK. It is responsible for operating and administering independent disciplinary schemes. The Accountancy Scheme covers Members of the following accountancy professional bodies: the Association of Chartered Certified Accountants, the Chartered Institute of Management Accountants, the Chartered Institute of Public Finance and Accountancy, the Institute of Chartered Accountants in Ireland, the Institute of Chartered Accountants of Scotland and the Institute of Chartered Accountants in England and Wales. The Actuarial Scheme covers Members of the Institute of Actuaries and the Faculty of Actuaries.
Links
AADB website
Auditing Practices Board
The Auditing Practices Board issues standards and guidance for auditing, for the work of reporting accountants in connection with investment circulars, and for auditors? integrity, objectivity and independence. It is also active in influencing the
International Auditing and Assurance Standards Board in setting International Standards on Auditing.
Links
APB website |
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