Call for new accounting watchdog

Call for new accounting watchdog

A new supervisory body which would operate independently of the accountancy profession but include some input from practitioners should be set up to oversee regulation of accountants, says the Chartered Association of Certified Accountants in a paper published today. Under the plan, which is a development of its idea for an accountancy equivalent of the General Medical Council, the Auditing Practices Board would become a fully independent organisation reporting to the new body.