Chartered accountants back legal changes

The Institute of Chartered Accountants in Ireland (ICAI) said yesterday it will continue to argue for a harmonisation of reporting obligations regarding company accounts.

Currently these operate under criminal, company and taxation law and are posing a considerable challenge to auditors and accountants.

ICAI chief executive Brian Walsh said the institute had worked with the Office of the Director for Corporate Enforcement (ODCE) to develop guidelines for reporting obligations for auditors, which saw reporting increase substantially in the second half of last year.