Companies Act 2014 section 1529

Additional report to audit committee

Section 1529 deals with the handling, submission and disclosure of the additional audit report that statutory auditors of public-interest entities must prepare for the audit committee (or directors where no audit committee exists).

• Where a public-interest entity is exempt from having an audit committee, the additional audit report must be submitted directly to the directors; otherwise, the audit committee must forward it to the directors.
• The Supervisory Authority may impose additional content requirements for the report beyond those in EU Regulation 537/2014, but only where these provide further information about the audit work undertaken.
• The audit committee (or directors, if no audit committee exists) must disclose the additional report on request to specified bodies — including the Supervisory Authority, Corporate Enforcement Authority, Revenue Commissioners, Workplace Relations Commission, Central Bank, or any body regulating the entity — where needed for those bodies to perform their functions.
• Any such disclosure to these bodies is legally protected and cannot be treated as a breach of any confidentiality or disclosure restriction imposed by any other law or rule.