Specific complaints relating to Fees, Insolvency, Audit and Investment Business are detailed below.
Complaints About Fees
ICAS does not normally intervene in fee disputes between members and their clients. However ICAS will take action in cases that demonstrate reckless charging of fees if it amounts to professional misconduct.
Though ICAS does not intervene in fee disputes, it does offer an arbitration service. The Fee Arbitration Scheme offers a quick and effective method of resolving fee complaints, other than fees in insolvency cases. Arbiters are appointed to act as Auditors of Fees and their findings are binding on the complainer and on the member. Detailed information on the scheme can be found elsewhere on the ICAS website.
Insolvency legislation provides the method for the auditing and fixing of fees and an appeal process for challenging the fees that have been fixed in favour of the insolvency practitioner.
Insolvency Related Complaints
Complaints about the handling of an insolvency process should first be raised with the insolvency practitioner in question. The insolvency practitioner’s acts and dealings are governed by insolvency legislation and guidance and it may be the case that the practitioner is simply complying with his duties. ICAS is not able to intervene in legal disputes between you and the insolvency practitioner nor can it become involved in the administration of the insolvency case.
Insolvency practitioners who obtain their licences from this Institute are bound by Statement 2 of the Institute’s Guide to Professional Ethics.
Audit Related Complaints
You should first make your complaint to the relevant Firm. ICAS can only consider complaints against a Chartered Accountant where the Member Firm is registered by ICAS to carry out audit work. The authorising body is normally stated at the foot of the Firm’s headed notepaper.
If the matter cannot be resolved you may consider making a complaint to ICAS. Please note that the complaint must be made in relation to an individual and you should therefore provide details of the relevant audit engagement partner concerned.
Investment Business Related Complaints
Firms are either authorised by the Financial Services Authority or by a Designated Professional Body. Details of which Body regulates the Firm should be shown on the Firm’s headed notepaper. You should raise your complaint with the Firm. ICAS cannot intervene in any dispute over investment business advice. If you consider that the Firm may have breached a regulatory duty then you may raise the matter with ICAS.
Contact us
If you would like further information please contact us on our Complaints helpline on 0131 347 0271.