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Corporate Enforcement Masterclass at LYIT

Masters in Accounting students discuss the current enforcement challenges facing firms in 2010 and beyond.

Accounting Masterclass 2010 Masters in Accounting students at LYIT discussed the current enforcement challenges facing firms in 2010 and beyond.  The masterclass seminar was presented by Kevin Prendergast, Corporate Compliance Manager, from the Office of the Director of Corporate Enforcement (ODCE), and the title of the presentation was “Encouraging Compliance -  Enforcing the law”.

The presentation outlined the statutory role of the ODCE with a particular focus on the current economic climate and the need for company directors particularly in the SME sector to be aware of their responsibilities under Company Law.  The role of education as well as enforcement was highlighted as a central part of the work of the ODCE.  The presentation discussed the difficult process of insolvency and the issue of the disqualification and restriction of directors and how this could be avoided.

One of the reasons the ODCE was established was due to the public concern surrounding cases of corporate failure and duties and responsibilities of directors.  In the current economic climate the work of the ODCE has increased significantly with companies going insolvent at an increasing rate each month.

Anne Burke, Lecturer in Accounting, remarked “It’s tremendous that students in the northwest are getting first-hand access to how key issues and policies are dealt with in the world of corporate governance.  Corporate enforcement in terms of business governance and best practices is a hugely importance aspect in today’s business world in Ireland and internationally.  Accountants need to be informed to the nth degree in this regard.  These seminars on the Masters programme provide insights into real frontline issues that businesses are facing in the current economic climate.”

The Department of Business Studies is currently introducing a new 3 year Bachelor of Business honours degree in Accounting (CAO: LY108) to replace their current 4 year programme.  Both the Masters and the new 3 year honours degree programme are focused at the professional accounting exams and achieve major exemptions from the professional accounting bodies, such as ACCA, Chartered Accountants of Ireland and CPA.

Further details about these programmes can be accessed at http://www.lyit.ie/courses/business/ or contact the School of Business Office at 074 9186211.



Fri, 03 Dec 2010 16:45:00 GMT

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