Companies Act 2014

F553 [ Appeals against withdrawal of approval

1481.

1481. (1) Subject to subsection (2) , a person may appeal to the High Court against the withdrawal by the recognised accountancy body of approval under this Part of the person as a statutory auditor or audit firm.

(2) An appeal shall not lie under subsection (1) unless and until any applicable internal appeal procedures of the recognised accountancy body have been employed and exhausted by the person referred to in that subsection.

(3) An appeal under subsection (1) shall be made within one month

(a) unless paragraph (b) applies, after the date of the withdrawal of approval, or

(b) after the confirmation of that withdrawal on foot of the internal appeal procedures of the recognised accountancy body having been employed.

(4) On the hearing of an appeal under subsection (1) , the High Court may

(a) cancel the withdrawal of the approval, or

(b) confirm the withdrawal of the approval.

(5) The High Court may, on the hearing of an appeal under subsection (1) , consider evidence not adduced or hear an argument not made to the recognised accountancy body if the Court is satisfied that

(a) there are cogent circumstances justifying the failure to adduce the evidence or make the argument to the recognised accountancy body, and

(b) it is just and equitable for the Court to consider the evidence or hear the argument, as the case may be.

(6) A notification of the outcome of an appeal under this section (or of any appeal from a decision of the High Court thereunder) shall be made by the recognised accountancy body to the same persons to whom a notification of a withdrawal of approval shall be made by section 1482 and (where it applies) section 1483 . ]

Annotations

Amendments:

F553

Inserted (21.09.2018) by Companies (Statutory Audits) Act 2018 (22/2018), s. 51, S.I. No. 366 of 2018.