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CCAB-I in out-of-court settlement.

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PositionNews Round-Up - Consultative Committee of Accountancy Bodies in Ireland - Brief Article

The Consultative Committee of Accountancy Bodies in Ireland (CCAB-I) has agreed a settlement with the Republic's minister for enterprise, trade and employment in judicial review proceedings over his decision in 1996 to recognise the Institute of Incorporated Public Accountants (IIPA). Ministerial recognition allowed IIPA members to act as statutory company auditors under the requirements of the country's companies acts. The settlement recognised the shared concerns of CCAB-I and the minister for the maintenance of the highest standards in the accountancy profession in Ireland. The minister acknowledged that the action taken by the CCAB-I members was motivated by a desire to maintain these standards. The CCAB-I whose members include CIMA, ACCA, the Institute of Chartered Accountants in Ireland (ICAI) and the Institute of Certified Public Accountants in Ireland (ICPAI), argued that, at the time of the decision, the IIPA lacked the requisite expertise and physical and human resources to perform the regulatory...

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