An invitation for expression of interest for the creation of a list of “Approved Investigating Officers for Disciplinary Investigations” is addressed by the Public Audit Authority of the Republic (“ADEELEP”), as the competent authority for the supervision of all statutory auditors and statutory auditors.
As stated in its announcement, the Authority is interested in the purchase of services of Investigating Officers for conducting disciplinary investigations on the basis of article 82, and which will have the powers provided in article 15 of the Law on Auditors (Law 53 (I) / 2017 ).
For this purpose, ADEElep intends to create a list of Approved Investigating Officers for Disciplinary Investigations, who, when the need arises for a disciplinary investigation, will be requested by ADEElep to submit an offer for undertaking investigations in relation to disciplinary misconduct. Auditors.
It is noted that, for the inclusion of persons in the list of Investigating Officers, it is a condition under article 14 (5) (b) (i) of the Law on Auditors (Law 53 (I) / 2017), to conduct an ex-ante evaluation by ADEELEP that these individuals have the appropriate professional training and relevant experience in statutory audit and financial information, in conjunction with special training in quality assurance inspections.
The Statutory Audit Offices as well as statutory auditors employed in Statutory Audit Offices are explicitly excluded from the expression of interest for participation in the list of investigating officers, in order to avoid a possible conflict of interests due to the Supervisory role of ADEElep.
It is noted that, in the context of the Law on Auditors Law 53 (I) / 2017, the terms of reference of the Investigating Officers to whom the investigations will be assigned, are basically determined by the following articles:
Article 88 – Procedure for taking evidence
Conducting a disciplinary investigation by the Investigating Officer which is completed within thirty days from the date of the order for investigation, with the right of extension up to thirty days provided by the Council at the request of the Investigating Officer if necessary.
Preparation of a relevant report in two copies, which are signed by both him and the investigated person, or his legal representative in case of a legal audit office, and each of the signatories keeps a copy.
The report shall include at least a clear description of the items received, the reason for the receipt, the time and place of the receipt, including details of the reported legal or natural person, the name and signature of the seizing officer and the signature of the complainant , or his legal representative in case of a legal entity.
The procedure for obtaining written testimony is provided in Articles 88 (7) and 88 (8).
Article 89 – Report
Submission to the Director of the Office of ADEElep of a report summarizing the testimony that has been collected and a relevant finding. The report shall be accompanied by the statements received, including any additional statements made by the complainant.
Article 97 – Hearing procedure
The investigating officer of the case submits before the Disciplinary Committee the testimony on which the indictment against the accused statutory auditor or the accused statutory audit office is based.
The testimony shall be submitted in writing and shall include testimony and any document or other material related to the contents of the testimony or other material seized or confiscated during the conduct of the investigation.
Possible counter-examination in the context of the Disciplinary procedure.
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