ISME criticises new corporate responsibility laws

The Irish Small and Medium Enterprises Association has criticised new laws requiring company directors to sign a statement certifying that they have complied with tax, company law and other statutory requirements.

ISME claimed the move was unnecessary and was placing a huge burden on smaller companies.

It accused the Government of adopting a knee-jerk overreaction to financial scandals at the multinational firms Enron, Worldcom and Parmalat.

ISME said small firms were basically being punished for the sins of major international firms.