Companies Act 2014

F650 [ Duty of Supervisory Authority or recognised accountancy body to take certain action

1564.

1564. (1) Where the Supervisory Authority or a recognised accountancy body receives a notification from

(a) the entity specifically responsible, pursuant to the laws of another Member State that implement Article 36 of the Audit Directive, for ensuring the cooperation referred to in that Article, or

(b) the counterpart authority in another Member State,

that activities contrary to the provisions of the Audit Directive or Regulation (EU) No 537/2014 are being, or have been, carried on in the State, it shall take appropriate action under the relevant provisions.

(2) The Supervisory Authority or a recognised accountancy body shall inform the notifying entity or authority of the outcome of that action, and to the extent possible, of significant developments in the period pending that outcome.

(3) A recognised accountancy body shall

(a) notify the Supervisory Authority of the taking by it of the action referred to in subsection (1) , and

(b) in addition to so informing, under subsection (2) , the notifying entity or authority of those matters, inform the Supervisory Authority of the outcome of that action, and to the extent possible, of significant developments in the period pending that outcome. ]

Annotations

Amendments:

F650

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