Seanad debates

Wednesday, 28 May 2003

Companies (Auditing and Accounting) Bill 2003: Committee Stage.

 

10:30 am

Photo of Feargal QuinnFeargal Quinn (Independent)

I understand the Minister of State's comments and I know his intentions are correct, but I must not have made my case or else it has been misunderstood. Senator McDowell talked about consumers and a very high portion of consumers are board members, yet board members are likely only to be represented by the two IBEC nominees. If this is to be driven by users of the system, surely board members who will be seriously affected by it should be guaranteed not only two places when so many State organisations do not have to show a bottom line to survive. We do not hear too often of State companies going out of business but we hear of commercial companies going out of business. We are establishing a statutory body to influence and to have a say, but we are not allowing consumers any more than two token places and perhaps membership if invited on to some sub-committee. I am concerned about this imbalance.

Maybe the names I picked, the Institution of Directors, ISME or Forfás, are not the correct ones. Although consumers are to be board members, we do not seem to be allocating them anything other than a token two seats.

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