The key changes, which came into effect in April this year, are that the disciplinary regulations have been strengthened along with the formation of three new conduct committees.

Under the new regulations, complaints will be assessed by the IFA to determine if they constitute a disciplinary matter. If appropriate the complaint will first be considered by IFA’s independent investigations committee. If that committee finds there is a case to answer, the complaint may be passed to the disciplinary committee which can order penalties if the complaint is upheld. There will also be an appeal committee, which can overturn the decision of the disciplinary committee and reconsider any order of penalties that committee has made.

David Woodgate, chief executive of the IFA, said: ‘These changes build on our existing disciplinary and processes and strengthen the ability of the IFA to investigate and deal with complaints honestly and fairly, based on evidence provided. If the public is to have confidence in any profession, it must have a thorough, effective and independent organisation in place for self-regulation.’

The IFA, whose members work for small and medium-sized enterprises (SMEs) or run or work in small and medium-sized accounting practices that advise SMEs, says full details of the process, hearings and findings will be publicly available on its website at www.ifa.org.uk.