Companies Act 2014

F622 [ Preparation for statutory audit and assessment of threats to independence

1539.

1539. A statutory auditor or audit firm shall, before accepting or continuing an engagement for a statutory audit, assess and document the following:

(a) whether he or she complies with the requirements set out in sections 1533 and 1535 to 1538 ;

(b) whether there are threats to his or her independence and the safeguards applied to mitigate those threats;

(c) whether he or she has the competent employees, time and resources needed in order to carry out the statutory audit in an appropriate manner;

(d) whether, in the case of an audit firm, the key audit partner is approved as statutory auditor in the Member State requiring the statutory audit. ]

Annotations

Amendments:

F622

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