New legislation governing the duties of auditors has been criticised as "poor and unworkable" by the president of the Institute of Certified Public Accountants (ICPA), Mr Brian Coffey.

Mr Coffey, writing in the current issue of the institute's journal, said a strong feeling was emerging among the accountancy profession that it was "viewed more as part of the problem in terms of reforming corporate Ireland than as part of the solution".

In a strongly worded article, Mr Coffey said consultation with the accountancy profession in advance of new legislation had become the exception rather than the norm.

"Unfortunately, in the absence of consultation, poor and unworkable legislation emerges.

"One such example, in the eyes of many practitioners, is the auditor's duty to report indictable offences in accordance with Section 74 (e) of the Company Law Enforcement Act 2001," Mr Coffey wrote.

"Is it conceivable that our legislators intended that auditors would be obliged to report on some 129 indictable offences to the Office of the Director of Corporate Enforcement?"

Mr Coffey said prior consultation on legislation "such as this" would have made for workable law truer to the spirit of corporate reform.

"Auditors are now obliged by legislation to report many minor offences by their clients to the Office of the Director of Corporate Enforcement at peril of being personally exposed if they do not report."

He said it was inevitable that the director's office would become overwhelmed with reports on minor and trivial offences.

"How long will it take for the value of this legislation to be questioned and for sensible reform to be applied?"

Mr Coffey said members of his institute could expect more forceful representation in the future "to ensure that accountants and auditors are not asked to carry an unreasonable share of the burden of reforming corporate Ireland".