News Article Published:
Monday, 20 August 2007
Category:
Financial Services
The Accountancy Investigation and Discipline Board (AIDB) will rebrand itself as the Accountancy and Actuarial Discipline Board (AADB), in order to incorporate the fact that it now deals with actuaries, too.
Following the Morris Review of the Actuarial Profession, the independent, investigative and disciplinary body, which used to only investigate accountants, will now include actuaries in its remit.
It is important that the new name is promoted among the public, as the main independent scheme that the AADB will operate will be applied to cases which are important to public interest.
The AADB is also a part of the Financial Reporting Council (FRC), which is responsible for promoting confidence in reliable corporate reporting and governance, so the AADB will have to ensure that it can cope with its new demands.
Consumers will be able to read details of the scheme ad its guidelines on the AADB section of the FRC website.
Mike Fogden, chairman of the AADB said: "I welcome the extended remit and the participation of the actuarial profession in the AADB's independent disciplinary scheme and look forward to taking forward the board's role in relation to the actuaries."
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