Lawyers could be pitched against accountants to monitor their firms for investment business following a decision by the Financial Services Authority to put its new powers to monitor professional firms out to tender, writes Lucinda Kemeny. It could potentially lead to a battle between the two professions with law and accountancy institutes, who have traditional fulfilled the role of monitor, fighting each other and the Big Five firms - which have already shown their interest in the job. The Law Society of England and Wales this week confirmed it would bid for the right to monitor its own members and will reject any proposals from accountants to do the job. A spokesman said: 'There certainly is rivalry between the two professions and the Law Society will be arguing its case very robustly.' He added that it was confident that no external organisation could outbid the society on price, quality and knowledge of the field. But the advertisement to attract bids has deliberately placed no limits on any one profession from acquiring the sole rights to monitor the 2,000 firms of lawyers, accountants and actuaries who will fall under the new regulations. The three institutes of chartered accountants already have a Joint Monitoring Unit and chairman of the professional standards office Peter Wyman said it could take on the role, while ACCA is likely to bid to monitor small firms.
New light-guiding nanoscale device can control and monitor a nanoparticle trapped in a laser beam with high sensitivity
Optical traps are scientific instruments in which a focused laser beam is used to exert an attractive or repulsive force on a microscopic object to hold it in place
Scientists estimate that the exoplanet has already lost up to 35 per cent of its mass over its lifetime
The observations were made using the Atacama Array in the Chilean desert
J1043+2408 was observed for more than 10 years, and its radio light curve exhibited a periodic signal repeating in about 563 days