Download the annual report 2006 
 
During the year to 30 June 2006, the Institute investigated 298 complaints and other issues concerning the conduct of its members. Of these, 31 matters were referred to the Professional Conduct tribunal, which imposed sanctions ranging from exclusion from membership to a mandated Quality Review. 
 
These complaints and issues represent a tiny fraction of the many thousands of tasks carried out by the 44,000 Chartered Accountants in Australia last year. 
 
During the year, the Institute developed a series of initiatives to enhance the disciplinary process and to meet our  
 
obligations within the co-regulatory framework that governs the Australian accounting profession. These included: 
 
Global activities 

• Benchmarking the Institute’s processes against major accountancy bodies in other countries. This process 
  confirmed that the Institute’s practices met or exceeded global best practice 
  
• Participation in a detailed self-assessment of procedures and policies through an International Federation of Accountants  
  (IFAC) survey. Early indications are that the Institute’s Professional Conduct function meets IFAC’s rigorous statement of member obligations.

• Developing case hearing guidelines for members of the Professional Conduct and Appeal tribunals 
  
• Securing Star Initiatives Grant funding and utilising this funding to develop an educational toolkit to help members resolve clientdisputes,or prevent them occurring.

• Amending the Institute’s regulations to ensure all members introduce a formal client complaints procedure 
  
• Amending Institute By-laws to deliver greater transparency during disciplinary issues. The Institute may now publish the name of a member who resigns in the face of disciplinary action, including alleged professional misconduct.

• Providing detailed information to the Financial Reporting Council (FRC) as part of its review of the professional bodies’ professional conduct processes, particularly as they relate to audit 
  
• Announcing an investigation of a member to the media 
  (if it relates to a member who is subject to serious adverse publicity) when it is the public interest to do so.