New Institute of Certified Public Accountants in Ireland (CPA Ireland) president Geoff Meagher has put the competitiveness and credit availability for SMEs at the top of his agenda for his year in office.
Meagher has also pointed to the need for businesses to get the best advice possible despite it being all too easy to cut cost on professional advice.
“The consequences of this are potentially catastrophic if the business finds itself dealing with a low cost but incompetent and unregulated accountant,” Meagher said.
“Businesses which fail to comply with the tax codes, company law and best practice in terms of operations and corporate governance are those most likely to fail.”
Meagher said CPA Ireland will continue its long running campaign to encourage the Department of Enterprise, Trade and Innovation to grant legal recognition for the term accountant.
He said this will make it easier for businesses to recognise that the accountant advising them is properly qualified and regulated by a competent professional body.
Meagher worked for PricewaterhouseCoopers and food and nutritional company the Glanbia Group before retiring in 2009.
He still works as an adviser for Glanbia.