Vol. 410 No. 6
15 Mr. Allen asked the Minister for Industry and Commerce if he will be extending official recognition to the Institute of Incorporated Public Accountants which he officially launched in recent times as a professional organisation.
I assume the Deputy is referring to the presentation to me at its request last April by the Institute of Incorporated Public Accountants of booklets it prepared for the use of its members and its students. This should not be construed as any form of official launching of that body by me. Equally, I have given no official recognition of any kind to the body concerned.
The Deputy will, no doubt, be aware that the Companies Act, 1990, has updated and strengthened the provisions of the 1963 Companies Act relating to the recognition of accountants for practice as company and public auditors. Applications for recognition will, henceforth, be considered under section 191 of the 1990 Act. I expect to make a commencement order in respect of section 191 in the autumn. It will then be necessary for all accountancy bodies seeking company or public auditor status, including those already recognised under existing legislation, to apply to me for recognition, and satisfy me that they meet the new requirements set out in section 191.
Can the Minister tell us if this body have made any application to him for official recognition?
I do not think that they have made a formal application because section 191 has not been commenced. It would be true to say therefore that none of the bodies concerned has made a formal application but I think all the bodies concerned have talked informally to my Department.
