Seanad debates

Thursday, 29 May 2003

Companies (Auditing and Accountancy) Bill 2003: Report and Final Stages.

 

10:30 am

Photo of Feargal QuinnFeargal Quinn (Independent)

I move amendment No. 1:

In page 8, to delete line 8 and substitute the following:

"(e) The Institute of Directors;".

I do not want to repeat what was said yesterday. The supervisory authority is heavily weighted in favour of the public service and lightly weighted in favour of the creators of wealth. The Government has shown a desire to listen to consumers in the past. Therefore, the omission of companies which use auditors and executive directors highlights a gap in Government policy. The Government considers consumers in other areas but in this sphere it does not recognise consumers or users.

The review group comprised 18 members, including two Civil Service trade union representations, six public servants, three academics and four representatives of auditors. There was only one representative of business, the creator of enterprise. The recommendations made by the group reflected that imbalance. There is a lack of understanding among governments in general about the needs of business. IBEC provided the only business representative on the interim board of the supervisory authority. My amendments are intended to achieve a better balance on the board.

Comments

No comments

Log in or join to post a public comment.