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ACCA Applied Knowledge · Business and Technology · The role of regulatory and professional bodies in promoting ethical and professional standards in the accountancy profession

A professional accountancy body is concerned that self-regulation may be seen as lacking independence. Which feature would most directly strengthen public confidence in its disciplinary process?

Including lay members on disciplinary panels most strengthens public confidence because it brings an independent, public-interest view and reduces the perception that the profession simply protects its own members. Secrecy or member-nominated panels would weaken transparency and independence.

  1. AIncluding lay (non-accountant) members on disciplinary panelsCorrect
  2. BKeeping all disciplinary hearings and outcomes confidential to the members
  3. CAllowing members to nominate the panel that will judge them

Explanation

Lay members bring an external, public-interest perspective and reduce the perception that accountants protect their own. Confidentiality reduces transparency, and letting the accused choose the panel undermines independence.

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