Accountants 'should pay' to protect their name

Accountants themselves should be prepared to pay to have their job title legally protected, one industry expert has said.

In an interview with Accountancy Age, Philip Turnbull, the chief executive of the Association of International Accountants (AIA), said that the majority of tax professionals backed moves to legally protect the term 'accountant'.

He explained that most people working in the sector thought that the protection would help ensure businesses and individuals could have access to the best possible tax advice.

"You wouldn't go to an unqualified doctor or solicitor, and the public deserves the same when it comes to financial advice," Mr Turnbull told the publication.

"People have been saying that it will be expensive and difficult to monitor, but that's why we've got the Financial Reporting Council in place. The most important thing is to push the legislation through."

Liberal Democrat MP Vince Cable tabled an early motion in Parliament earlier this year, calling for legal protection to be extended to the term 'accountant'.

"There is widespread confusion among the public on this matter and it is only right that they should be protected by knowing that they are dealing with a qualified professional," Mr Turnbull concluded.