Calls for action on unregulated accountants

With eight out of 10 MPs believing that accountants should have to be qualified, the government is being urged to tackle the issue of unregulated accountants.

Having long campaigned for legislation to be introduced, the Association of Accounting Technicians (ATT) believes that anyone offering tax advice should be a member of a recognised professional body.

Last year, a survey of AAT members revealed that seven out of ten had dealt with businesses suffering problems from unregulated accountants, with 44% saying the situation had worsened since the beginning of the pandemic.

AAT’s Director of Professional Standards and Policy, Adam Harper, said, “The issue of regulation in the tax profession needs to be a higher priority than ever and the reason for that is simple – the value and importance of good advice intensifies in a time of crisis. Smaller businesses are facing huge challenges and the government simply expecting voluntary adherence to HMRC standards across the board isn’t an effective strategy.

“AAT is not suggesting that all unregulated accountants are incompetent or unprofessional. But we are saying that there is a problem guaranteeing consumers a consistent service. There are already 200 professions that require membership of a professional body – the same should apply to accountancy.”

To find out more about contracting please contact Jaime on 01442 795 100 or email jaime.thorpe@dolanaccountancy.com.