Mr. Kevin Prendergast:

The two bodies that oversee auditors are Chartered Accountants Ireland and the Association of Certified Chartered Accountants, ACCA. One of them was established by statute under Queen Victoria in the 1880s. The ACCA is also a UK body established under a similar model. They are somewhat ancient in terms of structure but are effectively member-run organisations. That is how they operate in practice. They have their councils and various committees. Ultimately, they are controlled by their members, but they are not companies.