The Professional Standards Department of Chartered Accountants Ireland is responsible for the delivery of the Institute’s regulatory and disciplinary obligations which derive both from statute and its own Bye-laws and Regulations. Key functions include:
- Professional authorisations;
- Professional Conduct; and
- Quality Assurance.
Key committees involved in these processes include the Quality Assurance Committee, the Insolvency Licensing Committee, and the Conduct Committee.
The Professional Standards Department of Chartered Accountants Ireland delivers the Institute’s regulatory and disciplinary functions. Core activities of the Professional Standards Department include:
- Professional authorisations: granting, renewing, and where appropriate removing, licences to practice, to act as an auditor, to provide Investment Business advice and to accept insolvency appointments.
- Developing regulatory policy and professional standards.
- Quality assurance: Monitoring members and firms for compliance with those standards.
- Professional conduct: Dealing with complaints and taking disciplinary action when appropriate.
A number of committees are involved in the Professional Standards activities and these committees report to the PSB.
The Institute is subject to external oversight by a number of independent authorities with regard to how it meets its obligations as a regulator.
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