Reminder: insolvency events occurring in relation to members and affiliates

Mar 15, 2019

As of 5 October 2015, Chartered Accountants Ireland adopted a new approach to addressing the issue of members and affiliates in financial difficulty. The approach is consistent with the Institute’s public interest remit. Members and affiliates can contact secretary@charteredaccountants.ie with any queries.

Further information and guidance is available by clicking on the links below:

It should be noted in particular that insolvency events occurring on or after 5 October 2015:

  • Must be reported to the Secretary of Chartered Accountants Ireland within 21 days;
  • Require an application to be submitted to the Secretary of Chartered Accountants Ireland within six weeks if the member or affiliate wishes to remain a member or affiliate;
  • Will not give rise to automatic liability to disciplinary action but will be assessed to determine whether a disciplinary investigation is necessary; and
  • Will be reviewed from a regulatory perspective, where applicable, to ensure the member or affiliate remains fit to practise.

Members in financial difficulty can also contact Chartered Accountants SUPPORT in confidence.