The Government should introduce mandatory training for all new company directors, according to the incoming chairman of the Leinster Society of Chartered Accountants.

Continuing economic growth and lower corporation tax rates have resulted in a huge rise in the numbers of new businesses and new directors, Mr Domhnall Cahill told the society's annual general meeting yesterday.

"I am concerned that there now exists a growing army of directors with no formal training covering the onerous statutory obligations this appointment entails," said Mr Cahill.

Greater emphasis by the Government on compliance and enforcement of company law had made the introduction of such a training programme all the more necessary, he said.

He also called on the Tanaiste to consider the introduction of limited-liability-partnerships legislation similar to that introduced in Britain, which he said combines the organisational flexibility and tax status of a partnership with limited liability for its members.

Professional accountancy bodies should also agree a minimum entry standard for all students, he said.