Companies Act 2014 section 1470

Conditions for approval as statutory auditor

Section 1470 sets out the eligibility conditions that a person must satisfy in order to be approved as a statutory auditor.

• A person seeking approval as a statutory auditor must fall into one of three qualifying categories: Irish-qualified accountant, EU Member State auditor, or third-country auditor.
• An Irish-qualified accountant must be a member of a recognised accountancy body and hold an appropriate qualification as defined elsewhere in the Act.
• A Member State auditor (i.e. an auditor qualified in another EU country) must pass an aptitude test as required by the Act.
• A third-country auditor (i.e. an auditor qualified outside the EU) must both pass the aptitude test and comply with additional requirements set out in Chapter 20 of the Act.