Blog
Tech-Driven, Ethically Bound: New FRC and ICAEW Guidance on AI Use in the Accountancy Sector
Ian Ko
Ian is a Senior Associate in the Regulatory team, qualified in New Zealand and New York. He specialises in acting for firms and individuals facing regulatory and professional disciplinary investigations. He also provides advice to national regulators across a number of sectors, and regularly represents clients involved in public inquiries and reviews.
Regulatory Investigations
Ian specialises in acting for firms and individuals facing regulatory and professional disciplinary investigations. He has advised large accountancy firms, international law firms, and senior individuals in professional services firms in proceedings brought by the FRC, ICAEW, SRA, ACCA, CIPFA and CAI.
He represents clients facing both financial and non-financial misconduct at all stages of proceedings, from the commencement of an investigation to a tribunal hearing, as well as any subsequent appeal. He frequently acts for firms involved in anti-money laundering/counter-terrorism financing investigations, and has written in industry publications on this area.
Ian also has experience conducting internal investigations on behalf of corporate clients into allegations of misconduct and suspected criminality, and advises firms and individuals on their reporting obligations where potential misconduct has arisen.
Advice to Regulators
Ian has provided policy, governance and data protection advice to national regulators in the healthcare, financial services and legal sectors. He has advised on large-scale regulatory reform projects, including advising a financial services regulator on the creation of a new disciplinary framework and enforcement processes. He has also advised a leading regulator on its authorisation framework following Brexit.
In addition, Ian has been involved in a number of investigations and prosecutions on behalf of regulators. These have often involved complex and sensitive allegations, ranging from sexual misconduct and inappropriate behaviour in the workplace, to allegations of fraud and clinical incompetence.
Public Inquiries and Reviews
Ian has considerable experience representing institutions, public figures, and individuals involved as core participants or witnesses in major public inquiries and reviews. Recent notable matters include the following:
- Post Office Horizon IT Inquiry
- Grenfell Tower Inquiry
- Fishmongers’ Hall/London Bridge terror attack inquest
He advised the Financial Conduct Authority (FCA) in the Connaught Review, an independent review following the collapse of Connaught Income Fund 1, an unregulated collective investment scheme. He also assisted witnesses in the IRHP Review, an independent review by the FCA into mis-selling of interest rate hedging products by various large banks.
Ian holds a Master of Laws (LLM) from Harvard Law School. He is involved in Kingsley Napley’s pro bono initiatives, including Amicus ALJ, a charity providing representation for inmates on death row in the United States.
Recent cases
- Advising a senior finance executive in FRC proceedings in connection with the collapse of a high-profile listed company.
- Advising an international law firm in relation to alleged breaches of the Money Laundering Regulations 2017.
- Conducting an internal investigation for a professional services firm in relation to allegations of misconduct by senior individuals.
- Advising a partner in a regulatory investigation involving sexual misconduct allegations.
- Representing the CFO of a listed company in FRC proceedings.
- Advising senior individuals in a large accountancy firm in relation to self-reporting obligations for potential misconduct.
- Representing an accountancy firm in an ICAEW investigation involving suspected dishonesty and lack of audit independence.
- Advising a number of firms in relation to investigations involving breaches of the Money Laundering Regulations 2017 as well as ICAEW and ACCA Regulations, including securing early resolution/low-end disciplinary outcomes.
publications
Five Accounting Regulatory Issues to Monitor in 2024 - Accountancy Daily, January 2024
Regulation of AML compliance continues to grow - Accountancy Web, October 2023
What’s on the Horizon for Audit and Accountancy Regulation in 2023 - Accountancy Daily, January 2023
Professional memberships
- Association of Regulatory and Disciplinary Lawyers
- Young Fraud Lawyers Association
- Anglo-Australian Lawyers Society
