Institute of Certified Accounting and Auditing Professionals
Громадська спiлка "Iнститут сертифiкованих професiоналiв облiку й аудиту"

Membership Termination

ICAAP membership is terminated in the following cases:

  • voluntary withdrawal from the ICAAP membership;
  • dismissal from the ICAAP membership.

Voluntary Withdrawal from the ICAAP Membership

An ICAAP Member has the right at any time to voluntarily withdraw from the ICAAP membership. To exercise this right, an ICAAP member must submit a written request to the ICAAP territorial division or the ICAAP Executive Directorate.

The request for the voluntary withdrawal from the ICAAP membership by a  legal entity must include a certified copy of the top governing body minutes, confirming the decision of the legal entity to voluntary withdraw from the membership. The ICAAP membership is terminated upon the approval of the ICAAP Board. Such a decision must be approved by the ICAAP Board no later than 30 calendar days from the written request by an ICAAP member date of registration.

ICAAP Membership Dismissal

The ICAAP Membership Dismissal is one of the disciplinary action types in case an ICAAP member has violated the requirements of the Ukrainian accounting and auditing legislation, the IFAC Code of Ethics of Professional Accountants or the ICAAP Statute.

The ICAAP Council makes the decisions on disciplinary procedures specified by the ICAAP Statute and other internal ICAAP documents. Disciplinary proceedings are applied in each case by the ICAAP Disciplinary Committee following its Regulations.

According to Article 3.2 of the ICAAP Statute, possible reasons for the ICAAP membership dismissal are:

1) failure to fulfill the ICAAP membership duties due to the Statute, non-payment of membership fees, non-obeying decisions of the ICAAP governing bodies;

2) dissemination of information that is untrue or false and is detrimental to the ICAAP interests and/or business reputation;

3) imposition on the ICAAP member a disciplinary penalty by the Chamber of Auditors of Ukraine and other regulatory bodies, which makes it impossible for this a member to continue professional activity in accounting and auditing;

4) violation of the IFAC Code of Ethics requirements, which contradicts the goals and objectives of ICAAP and damages the reputation of the accounting profession as a whole.