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Accounting watchdog holds first meeting

The board of the Irish Auditing and Accounting Supervisory Authority (IAASA) held its first meeting today in Dublin.

At its first meeting, it appointed Ian Drennan as chief executive. Mr Drennan had previously been acting as the interim authority's chief executive designate.

Set up under the Companies (Auditing and Accounting) Act, 2003, the IAASA's main functions are to supervise how the accountancy bodies regulate and monitor their members and promote adherence to high professional standards in the profession.