Joint tribunals mooted for accountants and actuaries
Disciplinary cases involving accountants and actuaries could be addressed by joint tribunals, under proposals from the Financial Reporting Council (FRC).
The Accountancy Scheme and The Actuarial Scheme operate independent disciplinary arrangements applying to members and member firms of the participating accountancy and actuarial bodies, under the auspices of the FRC. The schemes deal with cases designated as "public interest" because of the issues or scale involved.
The proposals, published in December, would enable a joint tribunal to be convened when formal complaints delivered under both schemes address a common question of law or fact, arise out of the same events, or there is some other compelling reason for the formal complaints to be heard together.
The joint tribunal provisions are intended to make the schemes more efficient and effective by streamlining procedure, facilitating consistent tribunal decision-making and ultimately reducing costs in such cases.
A consultation feedback statement is available on the FRC website.