Shane Ross (Dublin South, Independent) | Oireachtas source

I will conclude. I have been providing an example of how serious regulation is needed in order to give confidence to entrepreneurs and to people overseas. A similar situation existed in the accountancy profession because the overseeing body was a farce. I will not refer to the high profile individuals who were members of that body but there was clear evidence produced by IASA itself since it was set up, that the previous body was running the regulation of accountants for their own benefit and not for that of the consumer. There are several well-documented cases which have been appealed to IASA. It has found against decisions made by the accountancy disciplinary body and these decisions have been reversed. Top accountancy firms who beforehand were regarded as untouchables by that body because of their strength, have been fined six-figure sums.

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