Other than the Investigation Committee (IC) of the Institute, the Disciplinary Committee (the DC) is the other statutory arm of the Institute established under Section 19(b) of the Accountants Act 1967. The DC is empowered under the Act to consider all complaints referred to it by the the IC and cases coming directly to it under Rule 18(2) of the MIA (Disciplinary) Rules 2002.
The cases that have been referred to the DC include membership-related offences, audit and accounting deficiencies and members that have been found guilty by the courts for unprofessional conduct, fraud, dishonesty and bankruptcy. The DC in discharging its regulatory function disposes the cases referred to it in a timely manner to ensure justice is manifested. Effective July 2020, the costs ordered to be paid and the fines imposed by the DC as punishments have been increased after the last revision in 2016. This revision made is well within the ambit of the MIA (Disciplinary) Rules 2002 to effectively regulate the members and deter potential wrongdoers.
The decisions of the DC are published in accordance with the mandatory requirement of the MIA (Disciplinary) Rules 2002 for transparency and to serve as a warning to members of the Institute.
Within the authority given to it by virtue of the Act and the Rules, the Disciplinary Committee shall:
- Consider all cases referred by the Investigation Committee and cases coming directly to the Disciplinary Committee;
- Exercise disciplinary powers as it thinks fit;
- Impose disciplinary punishment or dismiss a case referred to it after due inquiry has been made; and
- Regulate its own procedures as it deems fit and necessary or desirable for the performance of its duties.
When conducting a disciplinary hearing, the Disciplinary Committee is generally guided by the principles of natural justice, and specifically, the provisions of the Act and the Rules. The member respondent in each case is given an opportunity to be heard and to answer the Charge made against him during the disciplinary hearing before the Disciplinary Committee makes a decision.
Pursuant to Rule 30 of the Rules, every decision of the Disciplinary Committee is published in the government gazette, 2 official daily newspapers, Accountants Today and the same Is also Informed to the relevant government licensing authorities and association to which the said member respondent is associated with and is also uploaded to the MIA’s website.