Paul Boyle, CEO of the Financial Reporting Council, has waded into row over the registration of the term "accountant" and proposal by the ICAEW to stratify the profession.
He suggests that the idea has not been thought through.
Boyle is quoted in Accountancy Age:
"It would be very interesting to see what cost benefit analysis the institutes could produce on this proposal. By definition they can't have power over non-members, so who is going to do this, and who is going to pay for it?".
I can certainly answer the "who is going to pay" part.
The members of course, via higher subscriptions!