Richard Dyson, president of the ICAEW, has urged governments, regulators, standard setters and other bodies, to work together to cut down the number of initiatives that impact on the profession.

He also warned the industry to think carefully about the consequences of more rules and regulations.

Dyson made these comments as part of a speech to the institute’s annual dinner, held at the Chartered Accountants Hall,

Dyson said the institute was currently reviewing 38 consultation documents, which he said, best summed up the challenge the profession faced.

‘Is the sheer weight of such initiatives disproportionate to the perceived issues they are attempting to tackle? Are they creating unnecessary complexity for accountants? And, as a result, are they confusing the very businesses and individuals we all seek to serve?’ he asked.

Further reading:

ICAEW president warns of audit regulation threat

ICAEW should consider new 'learner' status

ICAEW wins deal with Indian business giant