The Tanaiste, Ms Harney, has called on the Institute of Chartered Accountants (ICAI) to publish its findings into the McCracken tribunal. And she has warned that, if justice is not seen to be done, she may reconsider the self-regulatory status of the profession. Speaking at a dinner for the members of the European Court of Auditors yesterday, Ms Harney forcibly reminded the accountants of their obligations following the tribunal into payments for politicians from Dunnes Stores.
"Justice will have to be done and it will have to be seen to be done," she warned. "If that is not the case and if the profession shows itself unable to deal adequately with the problems now presented to it, then it will be incumbent on Government to take whatever action is necessary in the public interest."
The Tanaiste's warning comes just over a week after the institute announced that it was to summon several accountants to appear before a disciplinary committee.
The ICAI is to investigate whether any of its members are guilty of misconduct following the tribunal's findings. Institute members named in the McCracken report include former Taoiseach, Mr Charles Haughey, Dunnes Stores trustee, Mr Noel Fox and the Dublin accountancy firm Oliver Freaney, which acted as a financial consultant to Dunnes Stores and were auditors to Mr Michael Lowry's refrigeration company Streamline Enterprises. The ICAI has not stated which of its members will be investigated.
Last night, Ms Harney said that accountants, auditors and bankers appeared to have been party to the possible wrong-doings uncovered by Mr Justice McCracken.
"These professions occupy a privileged position in the life of the nation and there are duties attaching to their privileges," she noted. "Above all, members of the professions must ensure that their behaviour is at all times above reproach and that they abide by the letter of the law."
While noting that the "vast majority" of accountants were upright and conscientious people who would never encourage or facilitate wrong-doing by their clients, she added that the actions of a few should not be allowed to tarnish the image of the profession as a whole.
According to Ms Harney, accountants or auditors cannot operate on the basis of "hear no evil, see no evil, speak no evil".
She also pointed out that the institute would not be allowing public access to its proceedings or investigations into members who may have contravened the rule book.
"The substance of the tribunal report deals with matters of intense public interest, and I believe it appropriate that as much information as possible be made available," she said.
She added that the picture painted by Mr Justice McCracken was one where only the "little people" paid their taxes. "For a wealthy and privileged elite, it seemed as if the tax laws of the country counted for nothing. And a modern democracy cannot function on this basis."
