Defence for Accountants in CIMA Investigations

The Chartered Institute of Management Accountants (CIMA) is a UK based professional body offering training and qualification in management accountancy and related subjects.

CIMA is one of the professional associations for accountants in the UK.  It focuses mainly on developing the management accounting profession.

It is a recognised professional accounting body.  The Institute regulates the activities of its members by a Code of Practice, a Discipline Committee and a continuing professional development education programme. Its governing body is its Council.

CIMA members and student members who seek to become full members, like with any other profession, commit criminal offences in their personal lives and behave in a manner that is unbecoming to the profession and, likewise, they make mistakes in their professional lives which cause their Regulator (CIMA) to investigate them.

If you are a CIMA member or student who is seeking to become a full member and you are asked to explain yourself before your Regulator, either by way of written representations in anticipation of an Investigating Committee considering your case or if the matter is referred to a Disciplinary Committee, you may well require legal advice.

It has to be remembered that the Disciplinary Committee hears cases that have been considered by the Investigation Committee and are too serious to be dealt with at that level, or where the member or student has not accepted a Consent Order.

If the matter is dealt with by the Investigating Committee and there is a prima facie case, then that Committee may:

• take no further action;
• offer a sanction by way of a Consent Order;
• submit the matter to the Disciplinary Committee; or
• submit the complaint to CIMA’s Regulator, namely the Financial Reporting Council (FRC).

However, if the matter gets as far as a Disciplinary Committee, that Committee can impose a range of other sanctions including funds, Costs Orders and expulsion of the member from membership or cancel a student’s registration with CIMA.

Adverse findings made against members and students by the conduct Committees are reported in the media and listed on CIMA’s published decisions page.

The document process is in place to protect the public and maintain confidence in CIMA to maintain high standards of professional behaviour in management accountancy.

Best Defence for Accountants

Richard has recently defended a student member who pleaded guilty to serious sexual offences and who was sentenced to a suspended term of imprisonment.

Arguments were advanced using not only CIMA rules but ACCA case precedents to the extent that this client was “severely reprimanded” and allowed to become a full member, having completed all their exams.

Contact Our Defence Lawyers for Accountants

Our expert lawyers are ready to provide expertise 24 hours a day, 7 days a week. If you have any issues with CIMA and require legal advice on this point, please e-mail eganr@tuckerssolicitors.com, or contact Richard Egan on 0771 112 9918.