Companies Act 2014 section 1565

Due consideration to be given to counterpart authority's request for investigation

Section 1565 deals with how the Supervisory Authority or a recognised accountancy body must handle requests from authorities in other EU Member States to carry out investigations in Ireland, and sets out requirements around control of those investigations and notification obligations.

• The Supervisory Authority or a recognised accountancy body must give due consideration to any request from another Member State's authority to carry out an investigation in Ireland under Article 36 of the Audit Directive.
• If the request is agreed to, the investigation remains under the overall control of the Irish body that received the request, even if officers or staff from the requesting authority are permitted to accompany the Irish team during the investigation.
• The concept of a "request" is broad enough to include situations where the foreign authority also asks for its own officers or staff to accompany the Supervisory Authority's or accountancy body's personnel during the investigation.
• A recognised accountancy body must notify the Supervisory Authority both when it receives such a request and, if it agrees to comply, of the fact that it has done so.