ICAI fined €10,000 by watchdog

Dublin: Accounting watchdog, the Irish Auditing & Accounting Supervisory Authority (IAASA), has fined the Institute of Chartered Accountants in Ireland (ICAI) €10,000 and ordered it to deal with a complaint it received again from scratch, after finding that the ICAI “failed to comply with its approved investigation and disciplinary procedures” when initially dealing with the matter.

The issue dates back to a complaint issued in 2007 by an unnamed third party to the ICAI.