The new accountants licensing regime is not fit for purpose and this largely explains the reluctance of accountants to become licensed, according to specialist financial services lawyer, Ian McDermott.
BIn an analysis to be published in Money Management, McDermott has concluded that the limited licensing regime “is seriously and structurally flawed” and this has been recognised by accountants.
“Our experience is that there is a broad chasm between the way accountants typically operate and the stringent compliance requirements of the financial services regime,” he said.
Read the full article in Money Management
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