News Article - 30 March 2007
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The new regulatory division of the Institute of Chartered Accountants in Ireland (ICAI) is to commence its work next month.

According to the ICAI, the Chartered Accountants Regulatory Board (CARB) will start its work on April 9th, after a decision from the institute's officer group earlier this week.

The autonomous body was officially appointed last month, following changes to ICAI byelaws which were awaiting approval from the Accounting Supervisory Authority.

Martin Wilson, the institute's president, said: "This is a significant step forward in the regulation of chartered accountants. Previously, the regulatory committee within ICAI reported on all matters to ICAI Council."

He added that the body would operate independently from the institute and had the power to fill its own vacancies.

How CARB conducts its work and disciplines accountants would continue, however, to be monitored by statutory oversight bodies in the UK and Ireland, Mr Wilson said.

Earlier this month, the ICAI welcomed Gordon Brown's proposals for a review of the tax policy in Northern Ireland, calling for a similar move to be taken in the Republic.

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