Minister for Trade and Commerce, Mr. Michael Ahern, T.D., outlines progress regarding recognition of the term “Accountant” and confirms that IAASA sees merit in action being taken

Minister for Trade and Commerce, Michael Ahern, TD today confirmed that the Irish Auditing and Accounting Supervisory Authority (IAASA) had reported to him on the results of its deliberations regarding the issue of affording recognition for the term “accountant”, which he had referred to it for examination. “The underlying difficulty”, the Minister explained, “and the reason for asking IAASA to look at this question, lies in the absence of a legal or uniformly accepted definition of the term “accountant”. This, allied to usages such as, for example, “turf accountant” creates an inevitable looseness such as to allow persons to style themselves as “accountants” who do not, perhaps, have any underpinning qualifications, with obvious implications for the general public”.

Minister Ahern stated that IAASA, in reviewing this question, had engaged in a significant consultation exercise with individuals and companies for whom this matter is relevant, and had concluded, in principle, that there is merit in effecting change in this area, in order to address the issue.

Welcoming this development, the Minister commented that “ in moving forward, the objective is to enhance consumer protection without imposing undue restraints on trade and competition”.

Minister Ahern went on to clarify that he had given the go ahead for IAASA to proceed to the next stage of the exercise, through the further engagement with interested parties on both sides of the debate, so as to elicit a set of reasonable, equitable, workable and balanced proposals which it can then consider.

In concluding, the Minister said that he “looked forward to the completion by IAASA of the next phase of its work on this question, and the presentation to me of its findings, following which, in consultation with officials of my Department, I can consider how best to proceed on this delicate and complex issue”.

ENDS

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