Joint Disciplinary Scheme

Definition:

abbreviation: JDS. A scheme established in 1979 by the Institute of Chartered Accountants in England and Wales, the Institute of Chartered Accountants of Scotland and the Chartered Association of Certified Accountants, for investigating and regulating the professional and business conduct, efficiency and competence of members of those accountancy bodies in circumstances which give rise to, or include questions of, public concern. Administration of the scheme is the responsibility of an executive committee of eight individuals and a chairman. Each of the three participating bodies appoints two of its own members to the committee; the other two members (who are non-accountants) and the chairman are appointed by agreement between the participating bodies. When any of the participating bodies considers that a matter has arisen that gives rise to public concern and should be the subject of an inquiry under the scheme it reports the matter to the executive committee which then appoints a committee of inquiry to prepare a report. If a committee of inquiry makes an adverse finding against a firm of accountants then it may decide on the sanction to be imposed and its finding will be published. If a committee finds against an individual accountant then the matter is referred to the participating body to which the accountant belongs and this body decides on the sanction to be imposed.



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