Companies Act 2014
F593 [ Removal of statutory auditors or audit firms by public-interest entities - supplementary provisions
1515. (1) In the case of a statutory audit of a public-interest entity —
(a) shareholders representing 5 per cent or more of the voting rights or of the share capital, or
(b) the Supervisory Authority,
may bring a claim before the High Court for the removal of the statutory auditor or audit firm subject to there being good and substantial grounds for bringing such a claim before the Court.
(2) The grounds for bringing the claim before the High Court shall relate to —
(a) the conduct of the auditor or audit firm with regard to the performance of his or her duties as auditor of the public-interest entity or otherwise, or
(b) the petitioner ’ s opinion that it is in the best interests of the public-interest entity to do so.
(3) For the purposes of subsection (2) —
(a) diverging opinions on accounting treatments or audit procedures cannot constitute the basis for the passing of any resolution for the purposes of that subsection, and
(b) ‘ best interests of the public-interest entity ’ shall not include any illegal or improper motive with regard to avoiding disclosures or detection of any contravention by the entity of this Act. ]
Inserted (21.09.2018) by Companies (Statutory Audits) Act 2018 (22/2018), s. 51, S.I. No. 366 of 2018.