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| CIOT welcomes debate over unqualified accountants |
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The Chartered Institute of Taxation (CIOT) has welcomed a Government debate which proposes that unqualified accountants and tax advisers should have professionally recognised qualifications before they can provide services. The CIOT notes with interest the recent Early Day Motion (EDM) asking for legal protection for the term accountant although it says that it would go further and include not only accountants but also tax and financial advisers. Nick Goulding, CIOT President, says: “The time has come to recognise the importance of obtaining professional qualifications in order to provide tax services to both business and the public.” The EDM reads as follows: LEGAL PROTECTION FOR THE TERM ACCOUNTANT That this House notes that the term `accountant' is not defined or protected by law and that thousands of small businesses and individuals, believing they have engaged qualified accountants, are at risk from harmful and costly business advice from unqualified, unregulated, possibly uninsured advisers; observes that although some unqualified accountants may do good work, an unqualified accountant is not answerable to any regulatory body and so cannot be disciplined; further notes that legal protection of title is viewed as essential in professions where there is a substantial degree of public interest, for example for doctors, barristers, solicitors and auditors; feels that greater accountability needs to be introduced; and urges the Government to consider introducing legal protection for the term `accountant'.
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About The Author  Sarah Laing Sarah is a Chartered Tax Adviser. She has been writing professionally since joining CCH Editions in 1998 as a Senior Technical Editor, contributing to a range of highly regarded publications including the British Tax Reporter, Taxes - The Weekly Tax News, the Red & Green legislation volumes, Hardman's, International Tax Agreements and many others. She became Publishing Manager for the tax and accounting portfolio in 2001 and later went on to help run CCH Seminars (including ABG Courses and Conferences). Sarah originally worked for the Inland Revenue in Newbury and Swindon Tax Offices, before moving out into practice in 1991. She has worked for both small and Big 5 firms. She now works as a freelance author providing technical writing services for the tax and accountancy profession. |
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Article Added Friday, 18 July 2008 | 1122 Hits |
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