30 Jul 2010
Accounting firm representatives have called for the government and industry bodies to do more to promote the industry ahead of unqualified rivals.
There are no restrictions on who can operate as an accountant and clients often don’t appreciate the difference between firms which choose to operate outside the main regulatory bodies and the undercut regulated firms with qualified staff on price, they warn.
The UK200 Group has expressed concern at what it believes are an increasing number of unqualified accountants offering substandard advice. It wants to encourage the accountancy profession to do more to promote itself, and highlight the benefits of properly-qualified professionals.
“The institutes – the ACCA and the ICAEW – need to do more to promote the brand so we have a situation whereby just as most people wouldn’t use a travel agent that wasn’t ABTA regulated, they wouldn’t use an accountant that is not regulated,” said Jonathan Russell, managing partner ReesRussell and vice-president of the Uk200 Group.
The group is also demanding government action to regulate or shut down unqualified operators.
“The burden of regulation on small accountancy firms is now such that some are seriously considering whether they want to be regulated,” Russell added.
Richard Trueman, managing director of Mitchells Accountants in Chesterfield, said: “There are certain things unqualified accountants can’t do, but, at first glance, there doesn’t appear to be much difference between a qualified and unqualified accountant.”
Are these to be the same "qualifieds" who never saw the crisis and who trained on Equitable Life and similar audit failures?
Get over yourselves perlease - nobody trusts you.
Posted by: Max B Gold, 01 Aug 2010 | 00:00
The advantage that unqualified accountants have is that they have no qualification to loose so are more willing to sail close to the wind on behalf of their clients.
People should realise however that most unqualified accounts have failed their professional exams.
It should also be noted that the Institutes cannot and do not take action over crooked qualified accountants in commerce and industry, only those in practice working in small partrnerships or alone.
Remember the auditors of RDS were qualified; their accounts were not.
Posted by: Iain Stewart, 03 Aug 2010 | 00:00
Yes, the qualification is there through hard work and service!
Posted by: Moira E, 08 Jun 2012 | 12:22
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