Competition watchdog succeeds in easing restrictions on trainee accountants moving firms

In a statement CAI said the previous policy was 'designed to uphold the integrity of the training contract system and maintain trust between all parties involved'

Under the policy, trainee accountants, who are under contract with an authorised training firm, had to secure 'permission in writing' from their current employer to 'transfer the balance of the contract to an alternative training firm before applying to, or interviewing with, any alternative employer'.

Accountancy body Chartered Accountants Ireland (CAI) has agreed to change its policy that applied restrictions on the transferring of active training contracts between firms after the competition watchdog raised concerns that it might breach competition law.

Under the policy, trainee accountants, who are under contract with an authorised training firm, must secure “permission in writing” from their current employer to “transfer the balance of the contract to an alternative training firm before applying to, or interviewing with, any alternative employer”.