Seanad debates
Wednesday, 16 April 2003
Companies (Auditing and Accounting) Bill 2003: Second Stage.
My difficulty with the legislation relates to the requirements for compliance. Senator O'Toole eased my concerns to a certain degree, but this is still difficult. A few weeks ago a company I am involved with sent me an important document of 50 pages which was accompanied by a 70-page note of advice from the company's solicitors detailing all the things I should and should not do. It scared the wits out of me because I was trying to be honest and stand over what I could say or do. The legislation is in danger of creating a cottage industry of advisers to advisers to advisers or of requiring people to scrutinise things too deeply before they can act.
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