Term 'accountant' under scrutiny in Ireland

News Article - 04 April 2007
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The Irish minister for trade and commerce, Michael Ahern, has announced proposed statutory restrictions on the use of the job title accountant.

According to Mr Ahern, the Irish Auditing and Accounting Supervisory Authority (IAASA) has suggested that those who call themselves accountants without having the qualifications to prove their claim could find themselves on the wrong side of the law.

The changes in the law, should they be made, would mean that unqualified financial professionals would still be able to provide accountancy services, but not under the term accountant.

"This proposed distinction strives for a balance between protecting the consumer and avoiding undue constraints on trade and competition," Mr Ahern said.

Commenting on the proposal, president of the Institute of Chartered Accountants in Ireland, Martin Wilson, said that "to be fair to accountants who are members of professional bodies and more importantly so that it is clear to the public, that the distinction between the regulated and unregulated sectors should be transparent and clear".

According to the IAASA, the public would expect those who call themselves accountants to have completed certain examinations and to be the subject of regulatory measures.

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