‘Audit market’ comments welcomed by Irish accountants

Comments made by Charlie McCreevy, European commissioner for Internal Markets
and Services, that the success of capital markets in Europe are dependant on
there being a competitive and stable audit market, have been welcomed by the
Institute of Chartered Accountants of Ireland (ICAI).

McCreevy made these remarks while speaking at a FEE (the European
accountants’ organisation) conference on audit regulation, attended by
representatives of the European Commission, European audit regulators and the
Public Company Accounting Oversight Board.

Commenting on the commissioner’s remarks, ICAI director of technical policy,
Aidan Lambe said: ‘We welcome the recognition by the commissioner of what are
now the facts of life in the audit market and ICAI looks forward to his report
and the commission consultation process at the end of the year.’

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