Chartered Association Of Certified Accountants

EDM number 1402 in 1994-95, proposed by Austin Mitchell on 13/07/1995.

That this House, concerned that the Chartered Association of Certified Accountants which acts as regulator under the Companies Act 1989, Financial Services Act 1986 and Insolvency Act 1986 and enjoys the privileges granted to it by chartered status, has not democratised its structures and procedures to allow it to fulfil these public responsibilities properly because it does not owe a 'duty of care' to any shareholder, creditor, stakeholder or even its own members, remains a closed and undemocratic body with no contested elections for its Vice-president, Deputy President or President, has consistently failed to have its officers elected, denies its members any say in the election of officeholders but gives its unelected officers the powers to cast hundreds of votes without any accountabilty, while denying the public any access to its council meetings, agenda paper or minutes; suggests that the Association is not fit to be a regulator; and urges the Government to take immediate action to reduce its status and privileges accordingly.

This motion has been signed by a total of 86 MPs, 1 of these signatures have been withdrawn.