Institute warning over 'rogue' Irish firms

Irish accountancy body Chartered Accountants Ireland (CAI) has warned that there are 120 unregulated accountancy firms in operation in Ireland, some of which are run by individuals with fraud charges or convictions. 

The CAI and other Irish accountancy bodies carried out their first census of accounting firms in Ireland recently. This showed that there are 2,000 state supervised firms and 120 ‘rogue’ or unregulated ones.

In a number of unregulated firms, the body said, those that run them have no qualifications, criminal records for...

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Comments
Locutus's picture

"Rogue" is a bit harsh    8 thanks

Locutus | | Permalink

Rogue "an unprincipled, deceitful, and unreliable person; a scoundrel or rascal"

I'm an ACCA and AAT member operating in the UK, but think it's a bit harsh to call anyone that isn't in our qualified club "rogues".

I believe that there is a case for all "accountants" to be regulated in some form in the UK, so that all practitioners at least have to have PII, maintain CPD and the the general public have some redress to a higher authority.

However, silly name-calling by leaders of professional bodies hardly advances that argument.

handymann7088's picture

And presumably there is no

handymann7088 | | Permalink

And presumably there is no such thing as a "rogue" registered accountant........... :) 

 

I'm not convinced that the

Dougj | | Permalink

I'm not convinced that the ICAI article actually calls all unregulated firms "rogue". Some of the unregulated ones are certainly rogue, but not necessarily all. Rather careless reporting here to get the headline....  http://www.charteredaccountants.ie/en/General/News-and-Events/News1/2013/December/At-least-120-accountancy-firms-operate-entirely-outside-of-state-supervision---Chartered-Accountants-Ireland/

stepurhan's picture

Judicious editing required

stepurhan | | Permalink

article wrote:
In a number of unregulated firms, the body said, those running them have no qualifications or criminal records for fraud......
So they have no criminal records for fraud? Presumably not. A sentence break might have been a good idea here as it is only with the following item that this becomes clear.

I am also concerned about Mr Lenihan's statements. Whilst he is not outright saying the unregulated firms are rogue, the tone of his comments definitely indicates he considers them sub-standard in some way. This is just another extension of the qualified/unqualfied debate in which he is parrotting Orwell with "Qualified - Good. Unqualified - Bad". Whilst qualified myself, I have met some very competent unqualified over the years. To imply that unqualifieds are in some way inherently bad is slightly unprofessional.

Rachael_Power's picture

Hi @Douhj, just to confirm

Rachael_Power | | Permalink

Hi @Dougj, just to confirm where I got the 'rogue' element of the article:

However, as currently constituted, IAASA regulates only those who are members of recognised accountancy bodies, allowing rogue firms ‘carte blanche’ to simply opt out.  

Thanks for providing us with your feedback though - we always strive to improve in our reporting in any way and appreciate your views.

ROGUE IRISH FIRMS    1 thanks

hiccup | | Permalink

Would "rogue firms" include those who gave all the insolvent Irish banks clean audit reports before they had to be bailed out? Of course not!