ACCA deals with complaints about its members and students – including allegations of misconduct – through its investigative and disciplinary service including, in certain circumstances, its disciplinary committees.

In addition, ACCA’s regulatory committees consider matters relating to eligibility for admission and continuing membership (including those that relate to practising certificates and audit qualification).

In delivering these services, ACCA acts in the public interest and in accordance with the principles of better regulation. It strives to take effective and proportionate disciplinary action, where appropriate, while carrying out procedures that are fair, consistent and transparent.

One way that ACCA incorporates the principles of better regulation into its regulatory and disciplinary services is through the incorporation of independent decision-making. To facilitate this, ACCA engages the services of independent panel members made up of lay and accountant committee members, chairs and legal advisers, as well as disciplinary assessors and regulatory assessors.

ACCA is seeking to appoint additional independent panel members to provide the services of regulatory assessors.

ACCA regulatory assessors do not have to be UK-based, but candidates must hold UK or Irish statutory auditor status with ACCA or another recognised supervisory body.

Please note that panel members are self-employed, for independence purposes and for public interest purposes.

Nature and scope of the services

Regulatory assessors are independent of ACCA and are expected to exercise their own judgement in making decisions, with regard at all times to the regulatory framework set out in ACCA’s Rulebook, policy statements issued by the Regulatory Board and other relevant guidance.

It is vitally important that the holder of a certificate or licence issued by ACCA meets the high standards expected by the public, and the holder will be subject to periodic monitoring by ACCA to ensure that they maintain those standards. Where they do not, ACCA will consider the need for appropriate action.

The regulatory assessor has the delegated power of ACCA’s Admissions and Licensing Committee to impose conditions on certificates and licences issued by ACCA and/or to impose conditions on any future reapplication for a certificate that the holder has voluntarily relinquished. Regulatory assessors play a key role in ensuring that the holder of a certificate maintains proper standards of conduct, thereby maintaining public confidence in the profession and protecting the public interest. 

Primary deliverables

• to act in the public interest
• to consider reports referred by ACCA’s Compliance team concerning the unsatisfactory outcome to audit monitoring reviews, including the firm’s action plan submitted in response to the reported findings and any subsequent correspondence between ACCA’s Monitoring Team and the firm
• to consider the action recommended by ACCA, apply knowledge of applicable auditing standards, relevant ACCA policy and guidance (in particular, the Guidance for Regulatory Orders on Unsatisfactory Outcomes to Monitoring Visits) and, based on the facts of the case, make a well-reasoned and appropriate decision from the powers available to the assessor as set out in ACCA’s Authorisation Regulations
• to prepare clear written reasons for the decision, utilising the template provided by ACCA
• to send the written reasons to Compliance within a maximum of four weeks of receiving the report and associated paperwork in order that ACCA may notify the firm of the decision
• to maintain competence in statutory audit and to undertake training provided by ACCA.

Specification

Regulatory assessors must:

• hold UK or Irish statutory auditor status with ACCA or another recognised supervisory body and be able to demonstrate recent experience at audit engagement partner level
• be able to apply the requirements of auditing standards in a robust and proportionate way
• be able to analyse information and reach objective decisions
• be able to prepare clearly articulated written reasons for decision.

Time commitment

• Caseloads are difficult to predict as they depend on the outcome of audit monitoring reviews conducted by the Compliance Team. However, it is anticipated that regulatory assessors will be asked to consider on average, approximately 10-20  cases per year (with each case expected to take around 3-4 hours). However, this is indicative only and there is no obligation on ACCA or the regulatory assessor in respect of the minimum or maximum number of cases.
• The role of regulatory assessor is part-time, flexible, and will be carried out remotely.

Service fee

• The fee per case for a regulatory assessor is £200 inclusive of VAT. ACCA operates an invoicing and purchase order system.

How to apply

If you would like to apply for the role of regulatory assessor, please email your details to panelmembersourcing@accaglobal.com.