The Institute of Chartered Accountants of Guyana (ICAG), currently investigating an allegation of misconduct against Guyana Revenue Authority (GRA) Commissioner-General Khurshid Sattaur, says regulating the discipline and professional conduct of its members is part of its legal mandate.
The ICAG has reiterated its mandate following accusations against the body by Sattaur, who suggested that it was out of line in subjecting him to disciplinary proceedings.
It was revealed last week that the Disciplinary Committee of the ICAG is investigating an allegation of misconduct made against Sattaur, who in turn accused the members of the accountancy body of colluding with the complainant, Kaieteur News publisher Glenn Lall, to discredit him. Sattaur is being accused of abusing his office and breaching secrecy regulations by leaking confidential information on a taxpayer.
Sattaur has accused members of the ICAG of bias in investigating the complaint and demanded the process be brought to an end immediately, while stating that he was considering reporting them for misconduct and malpractice to the entity’s “parent body in the UK.”
In an ad appearing in today’s Sunday Stabroek, the ICAG said that a press release attributed to Sattaur, which was reported on October 26, contained inaccuracies.
“A number of inaccurate assertions are made in the release with reference to the Institute, and the Institute has determined for the sake of public education and confidence to inform the public concerning the role of the Institute and the basis of its authority,” the ad said.
Sattaur, in an almost two-page long press release, had said that he is not engaged in public practice and therefore is not subject to the ethics that professional accountants subscribe to; he stated that he is a public servant and carries out a statutory function prescribed in law. As a result, he has questioned how he could be subject to disciplinary proceedings. “This suggests extreme bias and lack of knowledge of their own byelaws,” he argued.
The ICAG, however, noted that the Institute is a statutory body established under the Institute of Chartered Accountants of Guyana Act 1991. The objects of the Institute are clearly defined in that Act and include: “to regulate the discipline and professional conduct of its members and its registered students by maintaining a strict standard of professional ethics.”
The ICAG asserted that it is not a subsidiary of any professional body resident in the United Kingdom, but as a regulatory and disciplinary body has an independent statutory mandate in Guyana.
“By Section 6 of the Act, the direction, control and management of the affairs of the Institute are vested with a Council which comprises eight members of the Institute. The Council is empowered under the Act to appoint various sub-committees including an Investigations Committee and a Disciplinary Committee,” the ad said.
It listed several functions of those committees, including that “The Investigations Committee shall when necessary or desirable, investigate the conduct and good standing of members and students and any matter referred to it by the Council. This Committee shall have the power to make enquiries from members and students about professional matters, and to require the production of books, documents and working or other papers.”
The Disciplinary Committee, meantime, will conduct hearings of charges preferred against members and students by the Investigations Committee. Provision is also made for an Appeal Committee. The process that should be followed with respect to charges laid against any member is also outlined.
The Institute stated that its Rules of Professional Conduct, which are applicable to members, are those set out in the Code of Ethics for Professional Accountants issued by the International Federation of Accountants (IFAC), through the International Ethics Standards Board for Accountants. The Code of Ethics defines a professional accountant as “an individual who is a member of an IFAC member body.” The Institute is a member body of IFAC.
“The Institute trusts that this information clears up some of the misconceptions which may have been created by the inaccurate assertions contained in the press release, and lends to a better appreciation of the role and importance of the Institute in regulating the profession of accountancy in Guyana and ensuring the ethical conduct of its members,” the ad stated.
