Dáil Éireann díospóireacht -
Tuesday, 9 Dec 1997

Vol. 484 No. 3

Written Answers. - Accountancy Profession Regulation.

Emmet Stagg

Ceist:

35 Mr. Stagg asked the Tánaiste and Minister for Enterprise, Trade and Employment her views on whether it is time to end the system of self-regulation in the accountancy profession; and if she will make a statement on the matter. [22031/97]

Thomas P. Broughan

Ceist:

73 Mr. Broughan asked the Tánaiste and Minister for Enterprise, Trade and Employment when she will introduce legislation to regulate the accountancy profession in view of the recent difficulties encountered by the inspectors appointed by the Institute of Chartered Accountants and in view of the recent tribunal report; and if she will make a statement on the matter. [22021/97]

Tánaiste and Minister for Enterprise, Trade and Employment (Miss Harney)

I propose to take Questions Nos. 35 and 73 together.

I acted recently under section 192(2) of the Companies Act, 1990, to require the Institute of Chartered Accountants in Ireland to allow an official from my Department observe the proceedings of the Institute's Committee of Inquiry which has been established as a result of the McCracken Tribunal report. I am being kept up to date with developments and I hope that the committee will be able to move forward with its inquiries shortly.

If the difficulties which have arisen between the Committee of Inquiry and certain of the institute's members mean that the committee cannot satisfactorily complete its work, I will clearly have to review the present basis on which regulation of the accountancy profession operates. At this point however, it is premature to talk of the legislation being necessary to deal with the matter.