Companies Act 2014 section 936

Review of members of recognised accountancy bodies

Section 936 empowers the Supervisory Authority (IAASA) to review individual members of recognised accountancy bodies to check whether those bodies have been properly regulating their members in accordance with approved standards.

• IAASA may carry out reviews of members of recognised accountancy bodies to assess whether the body concerned has been regulating its members in the approved manner.
• In conducting such a review, IAASA has the right to inspect all relevant documentation held or controlled by the accountancy body whose monitoring practices are under examination.
• The member who is the subject of the review is obliged to co-operate fully with IAASA throughout the review process.
• If a member fails to co-operate with the review, they may face sanctions equivalent to those that their own accountancy body would impose on them for similar non-compliance.