a href=”http://www.accountancyage.com/Practice/1118551″>IPR is the right model)
Council was itself puzzled by the consultation process, or lack of it, followed by the working party who assembled this particular proposal for approval, and it appears two irreconcilable views prevail; the audit faculty still believes that regulated statutory audit is good for small companies, whereas, through consultation with company managers and small practitioners, it is known that such imposed regulation is of little or no benefit and diverts valuable time away from mainstream activity.
With the DTI nudging the profession away from unnecessary audit (surely the profession should be leading!) no obstacle such as the IPR should be used to slow progress towards removal of unwelcome and costly bureaucracy.
Peter Mitchell, chairman, Small Practitioners Association.