The structures in place for the regulation of accountants at the time of the appointment of the Blayney Committee in 1997 have changed considerably since.

The changes have occurred both within the Institute of Chartered Accountants in Ireland and outside.

Within the institute, committees of inquiry such as the Blayney Committee, have been replaced by a new Complaints Committee. The majority of the 12 members of the committee are non-accountants. The committee has the power to decide if a case referred to it is a prima facie case or not, as well as the degree of seriousness involved. More serious complaints are referred to the disciplinary committee.

The disciplinary committee has a range of penalties available to it, from reprimands to the withdrawal of the right to practice.

The Companies (Auditing and Accounting) Bill currently making its way through the Oireachtas will replace the role currently played by the Department of Enterprise, Trade and Employment in relation to authorising the regulatory regimes operated by accountants' professional bodies. It will do so by establishing the Irish Auditing and Accounting Supervisory Authority.

The authority will have a more pro-active role than the Department in that it will tend more to set down the rules as against sanctioning rules referred to it. There is a continuing debate as to the extent or nature of the interventions the authority will have in disciplinary matters. There is also a continuing debate as to how large a minority the accountancy profession should have on the authority.