Seanad debates

Wednesday, 28 May 2003

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

 

The declaration at section 4(d) appears to be a belt and braces provision. The job of the non-executive director is to ensure systems are in place, applied and reviewed. I have no difficulty in making a declaration about the existence, operation and reviewability of systems. However, to be asked to express a view as to whether these systems are broken down in a particular place is either self-inculpatory or unnecessary. I ask the Minister of State to consider whether this is absolutely necessary. The combination of these provisions could well deter the very sorts of people we want. While they will not inhibit non-conscientious persons, the more conscientious people are about the job they are doing, the more concerned they will be.

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