In Practice
Accountancy Profession calls for Lisbon Yes Vote
By Ronan O’Brien - Chartered Accountants Ireland Communications Director
Sep 10, 2009 - 8:49:58 AM

The Consultative Committee of Accountancy Bodies – Ireland has called for a Yes vote in the forthcoming referendum on the Lisbon Treaty.

CCAB-I is comprised of the State’s largest accountancy bodies – Chartered Accountants Ireland (formerly the Institute of Chartered Accountants in Ireland), the Association of Chartered Certified Accountants, the Institute of Certified Public Accountants in Ireland and the Chartered Institute of Management Accountants.

Commenting on behalf of the accountancy profession, CCAB-I Chairman, Tom Fitzpatrick said:

“The general business case for a Yes vote on this occasion has already been made.  We are an open economy that exports 80% of our output, over 60% to the European Union.  Our EU and euro membership has been a rare source of stability for Ireland’s business community in what has been a difficult year.

The accountancy profession has a particular interest in Ireland being represented strongly in Europe.  The parameters governing company law, financial reporting and our audit regulatory systems are all substantially set in Europe.  The application of International Financial Reporting Standards in Ireland is governed by EU decisions, as will, in the near future, the application across the continent of International Standards on Auditing.

Ireland has been successful in the past in influencing the outcome of discussions on these issues and with a strong Yes vote, CCAB-I believes we can continue to do that.”