Companies Act 2014
F601 [ Access by recognised accountancy body to audit documents
1522. (1) Where it considers it reasonably necessary to do so for the purpose of performing a particular function under the relevant provisions, a recognised accountancy body may inspect and make copies of all relevant documents in the possession or control of a statutory auditor or audit firm; for that purpose, it may, by notice in writing served on a statutory auditor or audit firm, require the auditor or firm either (as shall be specified) to —
(a) furnish to it specified documents, or
(b) permit it to have access, under specified circumstances, to all relevant documents in the possession or control of the auditor or firm,
within a specified period.
(2) Without prejudice to the generality of subsection (1) , the powers under that subsection are exercisable in relation to a statutory auditor or audit firm where a complaint is made to a recognised accountancy body that the statutory auditor or audit firm has contravened a requirement of the relevant provisions.
(3) Where the powers under subsection (1) are exercisable, the following additional power may be exercised by a recognised accountancy body if it considers that the exercise of it is reasonably necessary to enable it to clarify any matter arising from its inspection of the documents concerned, namely a power to require the statutory auditor or a member of the statutory audit firm to —
(a) attend before it, and
(b) explain any entry in the documents concerned and otherwise give assistance to it in clarifying the matter concerned.
(4) In this section, ‘ specified ’ means specified in the notice concerned.
(5) Without prejudice to subsection (6) , if a person fails, without reasonable excuse, to comply with a requirement under subsection (1) or (3) , the person shall be guilty of a category 3 offence.
(6) Where a person fails to comply with a requirement under subsection (1) or (3) , the recognised accountancy body concerned may apply to the High Court for an order compelling compliance by the person with the requirement, and, on the hearing of such application, the Court may make such an order or such other order as it thinks just. ]
Inserted (21.09.2018) by Companies (Statutory Audits) Act 2018 (22/2018), s. 51, S.I. No. 366 of 2018.