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Advancing Reliable Financial Reporting:. Investigation, Discipline and Appeals Systems for the Accountancy Profession. Gabriella Kusz Sr. Financial Management Specialist MENA FM World Bank. What do we mean by systems of Investigation, Discipline and Appeals (I&D)?.

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Advancing reliable financial reporting

Advancing Reliable Financial Reporting:

Investigation, Discipline and Appeals Systems for the Accountancy Profession

Gabriella Kusz

Sr. Financial Management Specialist

MENA FM

World Bank


What do we mean by systems of investigation discipline and appeals i d
What do we mean by systems of Investigation, Discipline and Appeals (I&D)?

  • Address both professional and ethical misconduct

    • Goal: To identify, address and sanction violations.

    • Responsible Entity: Can be Professional Accountancy Organization (PAO), regulator, government and/or a combination of the aforementioned.


Why do we care
Why do we care? Appeals (I&D)?

  • Promote and protect the integrity of the profession;

  • Alert Professional Accountancy Organizations (PAOs), government and regulators to areas of weakness;

  • Provide inputs into education, training and awareness activities; and

  • Provide force to ethical codes, professional standards, quality assurance findings, etc.

  • But most importantly….



Foundational aspects of i d
Foundational Aspects of I&D Appeals (I&D)?

Legal and Regulatory Framework


Important considerations
Important Considerations Appeals (I&D)?

  • Confidentiality

  • Timeliness

  • Monitoring progress of cases through system

  • Communications

  • Independent review of complaints

  • Annual report of findings


Challenges to the development of strong i d systems
Challenges to the development of strong I&D systems Appeals (I&D)?

  • Weak legislation

  • Ad-hoc systems

  • Lack of independence

  • Weak penalties

  • Lack of coordination / communication

  • Focus is on auditors – but forgets accountants!


How can we overcome these challenges
How can we overcome these challenges? Appeals (I&D)?

  • Strong legal and regulatory foundation

  • Independence

  • Balancing accountants and non-accountants

  • Linking to other core functions

  • Enhancing and formalizing communication

  • Strengthening / Broadening sanctions

  • Cooperative efforts to strengthen I&D


Thank you
Thank you! Appeals (I&D)?

  • Questions / Comments?