Companies Act 2014 section 1465

Basis on which audit firms approved in other Member States may carry out audits in State

Section 1465 sets out the conditions under which an audit firm approved in another EU Member State may carry out statutory audits in Ireland, including the registration requirements and the role of recognised accountancy bodies in that process.

• An EU-approved audit firm may conduct statutory audits in Ireland provided its key audit partner meets the approval standards under sections 1464 to 1472 of the Companies Act 2014, both at the time of registration and on an ongoing basis.
• Before carrying out any audit work in Ireland, the firm must register with the recognised accountancy body that approved the key audit partner, and that body must verify the firm is already registered in its home Member State.
• On registration, the recognised accountancy body assigns the firm a unique identification number, maintains a written record of all such numbers, and informs the corresponding authority in the firm's home Member State.
• When a recognised accountancy body is notified that an Irish-based audit firm has registered with a counterpart authority in another Member State, it must record that registration in the public register.