Parliamentary Standards Bill

Perhaps the noble Lord on the Front Bench can help me. Unlike some other noble Lords, I am somewhat clueless, a word frequently used by the Front Bench opposite. Could they please explain to me what happens if IPSA makes a finding, an MP is reported to the Committee on Standards and Privileges in the House of Commons and he says, "I didn’t do it, guv"? That committee would then have to make a judgment and it may or may not overturn what IPSA has done so, bingo, out of the window goes a totally independent body. Is that right?