- annual renewal of practising certificates
- annual renewal of CPA Firm, Corporate Practice and PIE Auditor registrations; and
- application for registration as a Registered PIE Auditor.
Policy and Oversight
Investigations & Enquiries
The diagram below depicts the overall disciplinary process:
After the Investigation and Compliance Department refers a case to the Discipline Department, the Discipline Department will conduct an assessment on the merits of a case and whether disciplinary action against the regulatee is warranted.
Where there is insufficient evidence to proceed, the Discipline Department will either close the case without commencing any disciplinary action or issue a Compliance Advice Letter to the regulatee.
If the Discipline Department decides to commence disciplinary action, an NPDA will be sent to the regulatee concerned.
The NPDA will:
(a) set out the allegations against the regulatee as well as the relevant facts and evidence;
(b) state the AFRC’s preliminary views on the allegations and proposed sanctions; and
(c) enclose a List of Documents relevant to the matters set out in the NPDA.
Under normal circumstances, the regulatee will be given 30 days to make representations. The regulatee should explain in writing any disagreement with the allegations, facts, preliminary views or proposed sanctions, with detailed reasons and evidence.
Upon the recommendation of the Discipline Department, the AFRC will make a decision on a disciplinary matter in the first instance without a hearing. This is designed to resolve cases more efficiently and achieve effective outcomes. The AFRC’s decision will be documented, together with reasons, in a written Decision Notice.
The regulatee, if aggrieved by the AFRC’s disciplinary decision, may apply to the Tribunal for an independent, de novo review of the decision. Such application must be made in writing within 21 days beginning on the day after the AFRC has issued the Decision Notice to the regulatee.
If a party to a review is dissatisfied with a determination of the Tribunal, an appeal can be made to the Court of Appeal on a question of law and/or fact. The party concerned must first apply to the Court of Appeal for leave to appeal within 30 days after the Tribunal has issued the determination.