PracticeConsulting‘Cowboys’ seek full regulation

'Cowboys' seek full regulation

Accountants belonging to bodies outside the six main institutes are asking to be regulated by the profession?s new watchdog to avoid being labelled as 'cowboys'.

The chief executive of the Corporation of Public Accountants, Kevin Henry, said he was keen for his 700 members to come under the remit of the Foundation, the new independent regulator. In addition to the six main bodies, which fall under the Foundation’s remit and form the Consultative Committee of Accountancy Bodies, there are potentially as many that it does not plan to regulate.

Henry was responding to calls from the so-called Montrose Group of accountants in Scotland that the government should create a legal restriction on the use of the term ‘accountant’ for CCAB members only. He said: ‘We are of the same view that it is crazy the accountancy profession is one of the only professions that isn’t regulated. People offering public services need to be competent.’

The Montrose group believes non-CCAB practitioners are not qualified to describe themselves as accountants. Henry believes his members are, but only for the market in which they work. ‘We’re not attempting to compete with the Big Five,’ he said.

Links

Move to round up cowboy accountants

Related Articles

5 tips for SMEs to protect cash flow

Accounting Software 5 tips for SMEs to protect cash flow

5m Alia Shoaib, Reporter
Tyrie on Finance Bill 2017: ‘Making Tax Policy Better’

Consulting Tyrie on Finance Bill 2017: ‘Making Tax Policy Better’

11m Stephanie Wix, Writer
Managing partner Q&A - the year ahead: Richard Toone, CVR Global

Accounting Firms Managing partner Q&A - the year ahead: Richard Toone, CVR Global

12m Kevin Reed, Writer
Deloitte 'self-imposes exile' on government contracts to defuse PM row

Accounting Firms Deloitte 'self-imposes exile' on government contracts to defuse PM row

12m Kevin Reed, Writer
Managing partner Q&A - the year ahead: Julie Adams, Menzies

Accounting Firms Managing partner Q&A - the year ahead: Julie Adams, Menzies

12m Kevin Reed, Writer
Friday Afternoon Live: Deloitte's tech thing; PAC wants HMRC 'contingencies'; and Sports Direct

Business Regulation Friday Afternoon Live: Deloitte's tech thing; PAC wants HMRC 'contingencies'; and Sports Direct

1y Kevin Reed, Writer
Friday Afternoon Live: HMRC complaints rise; Deloitte scoops big audits; and corporate reporting woes

Audit Friday Afternoon Live: HMRC complaints rise; Deloitte scoops big audits; and corporate reporting woes

1y Kevin Reed, Writer
New head of equity capital markets for KPMG

Accounting Firms New head of equity capital markets for KPMG

1y Stephanie Wix, Writer