PracticeConsultingRaising the audit limit

Raising the audit limit

The kind of accounts that I have had to modify as an auditor makes one want to weep. I for one, would certainly not trust any financial statements that are not audited paraticularly if they have not been produced by a qualified accountant.

No one would expect someone to set up shop as a doctor ready to operate onand diagnose cancer patients unless they are fully qualified to do so. Indeedthey would be arrested if they tried otherwise, once they have been caught.

So why do we have the situation where any Tom, Dick or Harry after a one-weekhome book-keeping course can set up and call themselves accountants and taxspecialists, let loose on the general public (I know of actual casespersonally and I am sure other practitioners have their own stories to tell).

John Bridgeman, director general of fair trading, said: ‘Customers need achoice of professional services which are provided efficiently and to a highstandard – how would having more ‘cowboy accountants’ help?

Qualified people like myself trying to make ends meet and run a smallpractice, are spending whole weekends attending cpd training and sufferingincreased costs and overheads on compliance measures meant to safeguard thepublic. I work over 60 hours a week and would consider myself as a very leancat…if a cat at all, but certainly not fat!

Why don’t they think of something that does actually help us and givecustomers the high standard of professional services that John Bridgemansuggests! Is it because they do not live in the same world and cannottherefore do so?

John Tonna ACIB FCCA ATII

Links

IPR will offer limited value, says ACCA

Accountants set to lose £445m from audit change

Changes to audit exemption brought forward

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