Seanad debates

Wednesday, 28 May 2003

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

 

10:30 am

Photo of Paul CoghlanPaul Coghlan (Fine Gael)

I move amendment No. 14:

In page 21, lines 3 and 4, to delete paragraph (a) and substitute the following paragraph:

"(a) appealing the decision of that body relating to that matter that was the subject of the enquiry to the High Court,".

This section deals with the intervention powers of the supervisory authority. This amendment has been tabled to ensure that due process is followed in seeking to reverse the decisions of disciplinary committees. The supervisory authority will have the power to approve the regulations governing the professional bodies' disciplinary arrangements. It will also have the authority to supervise the application of these regulations. In addition, it has been granted the power to annul the decisions of the disciplinary committees. This ability ignores due process and is, I submit, a contravention of the right of the individual member. It is unfair to subject an individual to a lengthy disciplinary process, as a result of which the member is obliged to accept that something can be wiped away with a stroke of a pen.

I accept, however, that the supervisory authority has a role in this, particularly if there are reasons why it is unsatisfied with the outcome of a disciplinary procedure. I propose that rather than having the power to annul a decision of the accountancy bodies, if the supervisory authority, having reviewed the bodies' procedures, concludes that the proper procedures have not been followed, it should be empowered to appeal the decision to the High Court. This is in line with the recommendation of the auditing review group, as Senator O'Toole, who chaired it, will attest.

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