The Government is about to establish a new supervisory body to prevent future bank- and brokerage scandals and tax fraud, Hungarian newswire MTI reports.

The new authority would control book-keepers, tax advisors, tax experts, certified tax experts and auditors. It would also be responsible for determining training requirements, issuing work permits, supervising service providers and – in case of deficiencies – issuing sanctions.

As Deputy State Secretary Zoltán Pankucsi said, the state is responsible for ensuring that companies which employ book-keepers, tax advisors and auditors get reliable, high quality services. He stressed that setting up this authority is expected to be one of the key measures for combating the black economy.

(Ministry for National Economy)