Panel member sourcing guide
This guide explains the background to ACCA’s disciplinary and regulatory processes and outlines the service standards required of those appointed to provide Panel Members service and the sourcing procedure. It is intended to be a guide only. Please email any queries to: panelmembersourcing@accaglobal.com
Questions?
Please email any queries to:panelmembersourcing@accaglobal.com
About ACCA
ACCA's purpose
We're a force for public good. We lead the global accountancy profession by creating opportunity.
We're the world's most forward-thinking professional accountancy body
We’re also a thriving global community of 252,500 members and 526,000 future members based in 180 countries and regions, that upholds the highest professional and ethical values.
We believe that accountancy is a cornerstone profession of society that supports both the private and public sectors. That’s why we’re committed to the development of a strong global accountancy profession and the many benefits that this brings to organisations, individuals, and society.
Our qualifications develop forward-thinking professionals with the financial and business skills essential for the creation of sustainable economies and flourishing societies. Every day, ACCA professional accountants support people and organisations in making sound decisions and doing the right thing. We build public trust by creating an inclusive profession with people from all backgrounds, bound by a common global code of ethics and committed to updating their skills to meet ever-changing needs.
Since 1904 being a force for public good has been embedded in our purpose, and this powers everything we do. Like offering everyone, everywhere the opportunity to access a rewarding career in accountancy. By working in partnership with emerging economies to establish their own professional accountancy organisations and grow their finance ecosystems. Through freely sharing our leading-edge research that answers today’s questions and prepares us for tomorrow. And by supporting our global family of members, future members, and partners and developing the profession for the next generation.
We think ahead and lead the profession. And through our cutting-edge research, we lead the profession by answering today’s questions and preparing for the future. We’re a not-for-profit organisation. Find out more at accaglobal.com.
Regulation
ACCA regulates its members, students, and others according to its bye laws. Therefore, regulation includes statutory regulation under the UK and Irish Companies Acts, the UK Financial Services and Markets Act, the UK Money Laundering Regulations, the Legal Services Act and the Irish Investment Intermediaries Act. But it also includes compliance with the ACCA Rulebook, which incorporates the Global Practising Regulations and the Code of Ethics and Conduct. As a regulator of smaller practices, ACCA is confident in its ability to provide robust, swift, fair and independent regulation. Practitioners are monitored by ACCA’s Practice Monitoring department. 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 may be referred to independent 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 the members’ certificates, or decide that cases should be heard by the Admissions and Licensing Committee. Where the regulatory assessors consider it appropriate for members’ certificates to be suspended, or withdrawn, they must refer the matter 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.
Panel members may be requested to participate in Audit Monitoring Committee hearings. The Audit Monitoring Committee meets once a month with the express purpose of reviewing the results of audit monitoring visits, in particular those which result in an unsatisfactory grade, and for ensuring that inspections are carried out to a consistent standard. The decisions of the Committee do not amount to regulatory action, although the Committee could determine that the findings of a particular monitoring visit should be referred to a regulatory assessor or to the Admissions and Licensing Committee for consideration of such action.
Discipline
ACCA’s bye laws and regulations bind ACCA members, firms, and students, and include provisions relating to discipline. The disciplinary process may be initiated by an external complaint made to ACCA, for example from a client or employer, or from within ACCA itself, for example because of an unsatisfactory monitoring visit. In all instances, ACCA investigates the complaint and may refer the matter to the Interim Orders Committee to consider whether to suspend the member, firm, or student’s membership, practising certificate or registration with ACCA.
Once the investigation is complete, a report may be prepared for consideration by a disciplinary assessor. Disciplinary assessors decide whether there is a case to answer and, if so, whether to refer the case to a Disciplinary Committee.
The Disciplinary Committee’s function is to decide whether a complaint has been proved, and if it has, to determine the appropriate sanction. ACCA’s Appeal Committee hears appeals from the Admissions and Licensing Committee, Disciplinary Committee and Health Committee.
ACCA’s Appeal Committee hears appeals from both the Admissions and Licensing Committee and the Disciplinary Committee.
ACCA's approach to regulation and discipline
Over recent years ACCA has gained recognition for the progressive and innovative approach that 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 runs between approximately 260 and 300 hearings a year. ACCA has a remote first approach to hearings with in-person hearings occurring only in exceptional cases. To ensure independence and impartiality, ACCA has lay majorities on its Disciplinary and Regulatory Committees.
ACCA's Regulatory Board
The Regulatory Board’s public interest role sits at the heart of ACCA’s oversight structure. The Board provides oversight over all ACCA’s public interest functions – setting qualifications and assuring their delivery, setting professional standards, and maintaining the licensing and disciplinary system.
The Board supports ACCA in discharging its public interest responsibilities. It comprises an independent lay (i.e. non accountant) Chair, five lay members and two Council members. The overarching remit of the Board is to provide independent oversight of ACCA's regulatory and disciplinary activities, and to report to ACCA's Council on the fairness, impartiality, and integrity of those activities. This includes oversight of ACCA’s regulatory and disciplinary committees and of ACCA examinations and other matters relating to the integrity of the qualifications process.
To an extent, the Board provides oversight of these activities through its three sub-boards. Each sub-Board has a clear programme of work, directed at strengthening the public interest elements of ACCA’s activities. The Appointments Board – responsible for the appointment, assessment, and removal of panel members (including chair), disciplinary assessors, regulatory assessors, and legal advisers, who are required for a robust disciplinary and regulatory process.
Sourcing process
Please see the Service Specification and Service Standards for each service type, for further information.
Application for appointment to provide panel member services
If you wish to be considered to be appointed as a panel member you must complete the relevant form (and a case study where applicable) online.
Please note that panel members are self-employed, for independence purposes and for public interest purposes.
No other documentation will be accepted.
The deadline for completion of the form and case study is 12pm (noon) BST Friday 26 July 2024. Incomplete or late submissions will not be accepted under any circumstances.
The information provided will be used to initially assess your suitability to provide the services and whether you will be invited to meet with members of the Appointments Board.
Case studies (where applicable) will also be considered.
Next steps
Shortly after the closing date, shortlisting will be undertaken. Identifying details are removed (to the extent reasonably possible) by ACCA before shortlisting.
After shortlisting, ACCA will communicate the outcome of their submission and, where appropriate, arrange meetings.
References and due diligence checks will be carried out for those who are invited to meet with the Appointments Board. Appointment will only be confirmed following the receipt of satisfactory references and due diligence.
Meetings will be with members of the Appointments Board and will be virtual. They are scheduled to take place on the following dates only:
- 27 August
- 28 August
- 29 August
After the meetings, ACCA will communicate the outcome. Any offer will be subject to contract including the outcome from reference and due diligence checks.
A virtual information meeting will take place in September/October (date to be confirmed) for those appointed to provide Panel Member services.