Firms' unqualified auditor convicted
Published 10/01/2011 | 05:00
A person investigated by corporate watchdog Paul Appleby "audited'' the accounts of seven companies while not qualified to do so, it has emerged.
Mr Appleby has secured a conviction against the individual in the courts, his office revealed in a review of 2010.
The Irish Independent revealed last week that 40pc of cases in Mr Appleby's office now concern unqualified auditors auditing accounts.
Mr Appleby's office has 20 cases before the courts concerning a wide range of breaches of company law. Mr Appleby is head of the Office of the Director of Corporate Enforcement.
Accountants can only audit the books of a company if they are recognised by an accountancy body, have sufficient training and a "practising certificate'' from one of the bodies.
This means people are potentially trading with companies they believe to be in a financially healthy state, but this may not be the case.