Companies Act 2014 section 1530

Auditors' reporting obligations under Article 12 of Regulation (EU) No 537/2014

Section 1530 sets out where statutory auditors and audit firms must submit their reports under EU audit regulation, and gives the Central Bank power to request additional information for financial market supervision purposes.

• Reports required under Article 12 of EU Regulation 537/2014 must be submitted to the Supervisory Authority (IAASA), unless they are already required to be sent to the Central Bank under specific financial services regulations
• The obligation to report to the Supervisory Authority is additional to any other reporting obligations the auditor may have, but the same information need not be submitted to the Supervisory Authority more than once
• The Central Bank may issue a written notice requiring a statutory auditor or audit firm to provide additional information within a specified period, where that information is necessary for effective financial market supervision
• A statutory auditor or audit firm that receives such a notice from the Central Bank is legally obliged to comply with it within the timeframe stated