A webinar focussing on your professional obligations, by which we mean the regulatory requirements of your professional body.
13:00 - 14:00
Date: 27 February 2024
Following two previous presentations on compliance - in December and January - this one-hour presentation (the last in the series) will focus on your professional obligations, by which we mean the regulatory requirements of your professional body. Those obligations come mostly from AIA’s Regulations, with which members and firms agree to comply when they apply for AIA membership. Failure to comply with the Regulations (which carry the same weight as the AIA Bye-laws) may give rise to liability to disciplinary action.
The relevant AIA Regulations include:
The Complaints, Disciplinary & Appeals Regulations only become relevant to an AIA Member if and when they are informed that a complaint has been made against them or AIA has alleged noncompliance with the Bye-laws, Regulations or Code of Ethics.
Within the Regulations, the presentation will focus on areas such as:
The IESBA Code has been adopted by AIA as its own Code of Ethics. As with the Regulations, failure to comply with the Code of Ethics is likely to give rise to disciplinary action. It is right that AIA not only expects high professional standards of its members and firms, but is seen to take robust and fair disciplinary action to enforce compliance with those professional standards. Reference will be made to the Code of Ethics during the course of the presentation.
Attendees may expect to identify a few areas that need addressing to ensure they remain (or become) fully compliant with the AIA Bye-laws and the Regulations and Code of Ethics that flow from those Bye-laws. AIA Members are required to plan and undertake relevant CPD, which must be ‘relevant to the Member’s current role and development’. Therefore, this presentation may help you in your CPD planning process (by highlighting areas you may need to research further), as well as providing some practical compliance advice in certain areas.
The high professional and ethical standards of AIA Members means that there is a link between AIA’s own regulatory framework – your professional obligations - and the recognition of AIA in statute. For example, AIA is included in Part 8 of the Charities Act 2011 as a body whose members may act as independent examiners of charity accounts. It is also an approved Professional Accountancy Body by the Civil Aviation Authority – a body constituted under the Civil Aviation Act 1982.
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Ian Waters qualified as a Chartered Accountant in 1990 and gained extensive experience in the SMP sector. This included a role as consultant and training provider before joining the Association of Chartered Certified Accountants in 2004, specialising in regulation and ethics. As Head of Standards, Ian led ACCA’s work in all aspects of regulatory policy, including emerging areas such as legal services and anti-money laundering supervision.
More recently, Ian held the role of Director of Professional Standards at the Institute of Financial Accountants, where he led a team to enhance the Institute’s compliance monitoring and enforcement arrangements. Ian has sat on various working groups concerned with ethics and regulation, including anti-money laundering compliance and oversight. He is vice chair of the Practice Assurance Committee of the Institute of Chartered Accountants in England and Wales.
As a consultant, Ian enjoys providing solutions in the various areas of regulatory compliance and support for small practices. He has also worked with professional accountancy bodies and understands the importance of professional ethics in regulation and an open culture within organisations.