Oddly enough, most if not all of the major accounting scandals both in Ireland and elsewhere over the past 10-20 years have involved the large multinational firms, who tend to dominate the Institutes who regulate the profession as a whole. Unregulated accountants may have no regulatory supervision as such, but they still have a legally enforceable duty of care towards their clients and paradoxically as a group have a better record in avoiding scandal and wrongdoing than some of the largest and most prestigious elements within the profession.