Companies Act 2014 section 1576

Audit by non-registered auditor or audit entity - consequence

Section 1576 sets out the legal consequence when a third-country auditor or audit entity that is not properly registered in Ireland provides an audit report on certain undertakings.

• An audit report issued by an unregistered third-country auditor or audit entity has no legal effect in Ireland.
• This applies to audit reports on the accounts or consolidated accounts of undertakings that are required to have their third-country auditor registered.
• There are two exceptions: where an equivalence exemption applies, or where the undertaking falls within a category that is not subject to the registration requirement.
• Registration must be under the relevant registration provisions of the Companies Act 2014 for the audit report to carry legal validity.