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MPs could learn a lesson from accountants about trust

Amid the continuing Brexit uncertainty, LSCA President Nathan Steinberg calls on MPs to learn lessons from the accountancy profession on restoring trust in the face of ongoing criticism.

Nathan Steinberg with Valerie Owen Le Vaillant, the incoming Master of the Worshipful Company of Chartered Architects

October 2019

In the last few weeks political uncertainty regarding Brexit has increased. You could not make it up. Friends and colleagues comment on the failure of politicians to resolve the position.

At the same time, recent corporate failures have caused the audit profession ‎to be criticised and held to account, particularly by MPs on the Business Energy and Industrial Strategy (BEIS) committee, probably justifiably.

However, I feel that MPs of all parties should similarly be held to account for ‎their abject and continued failure to deal with Brexit.

I call upon all London Members to canvass their MPs to act in the country’s interest and work in a spirit of compromise to end the current uncertainty that is badly affecting business decisions.

The accountancy profession has taken the criticism very seriously; firms are seriously considering how they will deal with potential regulatory changes.

The profession is actively engaging with government and MPs to argue the case for a measured approach to regulation and recovery of trust.

In September, I attended the Installation Court Lunch with the incoming Master of the Worshipful Company of Chartered Architects , Valerie Owen Le Vaillant at which I was promoting harmony between the respective Chartered professions.

It is also necessary to have an even playing field so that all directors of public interest companies are subject to regulation and possible discipline, not just our members.

I recently attended a dinner at the House of Commons hosted by Craig Mackinlay MP at which all these issues were raised and discussed.

Hopefully our views will filter their way to government once Brexit has been resolved.

Watch this space.

Nathan Steinberg is President of the London Society of Chartered Accountants and a consultant with Kreston Reeves.

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