Legal Protection For The Term Accountant

EDM number 1949 in 2007-08, proposed by Vincent Cable on 03/07/2008.
Categorised under the topics of Consumers, Employment and Financial services.

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'.

This motion has been signed by a total of 83 MPs.