Corporate Governance

Dáil Éireann Debate, Wednesday - 8 May 2019

Wednesday, 8 May 2019

Ceisteanna (581)

Pearse Doherty

Ceist:

581. Deputy Pearse Doherty asked the Minister for Business, Enterprise and Innovation if an investigation is under way here by the Competition and Consumer Protection Commission in view of the British Competition and Markets Authority recently calling for rapid legislation to end the dominance of the big four accounting firms and address problems of poor working practices and conflicts of interest in the sector; and if not, his plans to call for an investigation. [19313/19]

Freagraí scríofa

Minister for Business, Enterprise and Innovation

The Competition and Consumer Protection Commission is the statutory body responsible for the enforcement of domestic and EU competition law in the State. Section 9 (5) of the Competition and Consumer Protection Act 2014 provides that the Commission is independent in the performance of its functions. As investigations and enforcement matters generally are part of the day-to-day operational work of the Commission, I, as Minister for Business, Enterprise and Innovation, have no direct function in the matter.

I understand that the Deputy is referring to the recommendations of the UK Competition and Markets Authority in its final report of the Statutory Audit Services Market Study. It would be inappropriate for me to comment on the recommendations from a report relating to another jurisdiction.