Companies Act 2014

F667 [ Conditions for registration of third-country auditor or third-country audit entity

1577.

1577. (1) The Supervisory Authority may cause to be registered a third-country auditor or third-country audit entity pursuant to section 1573 only if

(a) where the applicant for registration is an audit entity (referred to in this section as the potential registrant ), the applicant satisfies so many of the conditions specified in subsection (2) as are applicable to an entity, and

(b) where the applicant for registration is an auditor (also referred to in this section as the potential registrant ), the applicant satisfies so many of the conditions specified in subsection (2) as are applicable to an individual.

(2) The conditions are as follows:

(a) the majority of the members of the administrative or management body of the potential registrant meet requirements equivalent to those of sections 1464 and 1472 ;

(b) the third-country auditor carrying out the audit on behalf of the potential registrant meets requirements equivalent to those of sections 1464 and 1472 ;

(c) the audits of the accounts or consolidated accounts referred to in section 1573(1) are carried out in accordance with international auditing standards as referred to in section 1526 , as well as the requirements referred to in section 1491 , or with equivalent standards and requirements;

(d) the potential registrant publishes annually on a website, being a website maintained by or on behalf of the potential registrant, a report which includes the information referred to in Article 13 of Regulation (EU) No 537/2014 in relation to the year concerned or the potential registrant complies with equivalent disclosure requirements. ]

Annotations

Amendments:

F667

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