Self- Regulation - McCartney stroke could delay review
Plans to radically revamp the accountancy profession’s regulatory process could be held back by the sudden illness of trade minister Ian McCartney, who is leading the review.
McCartney suffered a ‘mini-stroke’ last week, and is resting at home where he is expected to make a full recovery. A Labour party spokeswoman said this week that McCartney intends to be off work ‘for only a short time’.
The government is currently examining responses to its consultation on the framework, which had a January deadline. The institutes submitted a joint response which raised concerns about the composition of boards.
English ICA president Chris Swinson – who led the profession in negotiations on the issue – fought for a 50:50 balance of non-accountants and accountants in some of the boards, but was overruled by the government which has insisted that at least 60% of members were from outside the profession.