Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

What are the witnesses' views on the current regulatory architecture in Ireland for accounting and auditing? We have the Irish Auditing and Accounting Supervisory Authority, IAASA, which involves ministerial appointments and the prescribed accountancy bodies are represented on it as well. As I understand it, the role of IAASA is to oversee the regulation of the profession by the prescribed bodies. What are their views on that in the context of the EU's directive on audit regulation? What are their views on that structure? Is it working, is it deficient and what should change?