PracticeAuditE&Y chief wants ‘independent’ regulator

E&Y chief wants 'independent' regulator

Nick Land, chairman of Ernst & Young, has thrown his weight behind scrapping the current system of regulation for accountancy and establishing an 'independent watchdog'.

Links: Self-regulation may survive

Land believes the public is not convinced by ‘self-regulation’ and that accountancy needs a fresh start.

In an interview with a Sunday newspaper, Land said he believed the government should be funding accountancy regulation directly or from a levy on listed companies.

His remark come after the Department of Trade and Industry began a review of the Accountancy Foundation which is currently funded by the six accountancy institutes.

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