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Ireland lacks qualified company secretaries, says new Irish Region President

24 November 2016

The Irish Times

21 November 2016

Incoming Irish Region president says tougher EU rules and over-regulation are a threat to growth. 

Ruairí Cosgrove, President of the Irish Region of ICSA - the professional body for governance – argued that Ireland has a shortage of qualified company secretaries who can parse tougher EU corporate governance regulations.

Ruairí Cosgrove, who is also the PwC director for entity, governance and compliance practice, said over-regulation has now been identified as one of the key threats to growth.“For example, we have the new Companies Act, now in force for over a year, and other new EU regulations, resulting in more stringent compliance and corporate governance requirements,” Mr Cosgrove said.

“Chartered company secretaries have the appropriate skills to ensure business is not held back by this regulatory burden and are ideally positioned to ensure their organisation is not exposed to undue risks,” he said.

As president of the Irish Region of ICSA, he said his goal would to significantly increase the number of ICSA-qualified company secretaries. “To achieve this we need a co-ordinated effort to ensure the relevant education and training are in place and we are already collaborating with professional bodies such as the Law Society and the Institute of Bankers.”

Mr Cosgrove was appointed last week as the President for the Irish Region of ICSA for a two-year term.  

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Ruairí Cosgrove, newly appointed president of the Irish Region of ICSA with Conor Ryan, outgoing Irish Region president.