Seanad debates

Wednesday, 28 May 2003

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

 

Many sanctions imposed by the accountancy bodies are done by way of consent, but who would now accept a consensual order when the matter, irrespective of the size of the monetary penalty involved, has to be referred to the courts? I suggest that we will see an unwillingness to have cases, however trivial, determined in this fashion. The effect will be to undermine the respective institutes' capacity to resolve even minor difficulties. The Minister will appreciate that from his own membership in the past. The courts are already busy and this measure will only serve to tie them up even further. The measure is unnecessary and counter-productive.

Comments

No comments

Log in or join to post a public comment.