The Chartered Accountants Regulatory Board (CARB) notes the IAASA findings in relation to a Section 23 enquiry published today www.iaasa.ie. In this particular Section 23 finding IAASA has highlighted a relatively minor flaw in the communication between CARB and the complainant and member.
In correspondence CARB informed a complainant that it was not proceeding with two specific aspects of a complaint because no prima facie case was established. The reason no prima facia case was established was that no evidence was found, however this latter point was not included in the letters and this omission gave rise to the IAASA finding.
As a matter of record, CARB accepted the findings of the IAASA Preliminary Enquiry Committee in this matter in October 2008. CARB immediately reviewed its procedures to ensure that the communications flaw identified by IAASA would not occur in future. Since October 2008 our processes have been amended to take account of the IAASA findings in this matter.
CARB fully supports the provisions of Section 23 of the Companies (Auditing and Accounting) Act, 2003 which provides an important oversight function to aspects of CARB’s work and welcomes any matters brought to its attention which will assist in its ongoing commitment to improving and enhancing procedures.
Contact: Paul Daly, CARB Communications Executive
T: +353 87 223 5187
E: Paul.Daly@carb.ie