Áine Collins (Cork North West, Fine Gael) | Oireachtas source

I welcome the witnesses and the opportunity to discuss this subject. I must first declare an interest in that I am an accountant and a member of a certified public accountancy organisation.

I support the proposed amendment. I established my own practice 18 years ago. Prior to doing so I had to go to college and undertake professional examinations. I operate in a small town in competition with a person using the term accountant but is not qualified. I am required to undergo 60 hours CPD annually and must have professional indemnity. I am also subject to a visit by the institute at least once every two years during which time I am required to produce a list of my clients, from which is selected the names of the person's whose files are to be reviewed. I am competing with someone who is acting as an accountant but who in reality does not have the same offering, which is very difficult. This is also not good for consumers. This is a real issue that needs to be addressed. I welcome the amendment and propose to endorse it.

On the public interest entities, how can we help to move this along? I agree with the witnesses that we need to do something in regard to the CRO fines for small companies. In practical terms, this would mean a small company that is a day late could, if required to undergo an audit, face an additional cost of €2,000 or €3,000 on top of costs already borne. There is a need for some leniency in this regard.

Is Mr. Gordon aware of what the Minister, Deputy Bruton, said in the Dáil in July in relation to co-operatives and proposed changes in that regard?