Got a link in an email to this earlier:
The Government’s response
The Government is not persuaded that introducing statutory regulation of those who provide accountancy services would justify the costs to business.
The Government is aware that the professional accountancy bodies have suggested that the term “accountant” should be restricted to those who hold recognised professional qualifications. However, there are a number of potential drawbacks to introducing legislation to restrict the use of the term “accountant”. These include practical difficulties about who should be allowed to use the term, increased regulatory burden and increased costs for business and anti-competitive effects in the form of restricted choice, higher prices and reduced innovation in the supply of services. All of these consequences would particularly affect smaller businesses.
As with most services, users may wish to check whether the provider is a member of an accredited professional body before making a decision on who to engage.
