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.
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