DTI stalls Review Board proposals after hint of alternatives
The government will delay consideration of proposals for a single regulator for the profession, following indications other groups want to make their own submissions, writes Phillip Inman.
The decision is a blow to Chris Swinson, head of the Consultative Committee of Accounting Bodies working party that drew up the proposals, who is spearheading the fight against statutory regulation of accountants.
A Department of Trade and Industry spokesman confirmed industry minister Ian McCartney, who is in charge of the review, delayed examining the proposals.
But he refused to reveal the names of the groups preparing to submit rival plans.
Swinson said he was unable to comment until he knew more details. But Peter Layhe, vice president of CIMA, said he was unsurprised the DTI wanted to wait for more responses before examining the Review Board proposals.
He said it was likely the DTI would also want to include the current review of the insolvency profession in the plans, delaying a decision until next year.