Companies Act 2014 section 1577

Conditions for registration of third-country auditor or third-country audit entity

Section 1577 sets out the conditions that must be met before the Supervisory Authority can register a third-country auditor or a third-country audit entity in Ireland.

• Applicants — whether audit entities or individual auditors — must satisfy all conditions applicable to their category before the Supervisory Authority can register them.
• The majority of the applicant's administrative or management body must meet standards of good repute and qualification equivalent to those required of Irish-approved statutory auditors.
• Audits must be conducted in accordance with international auditing standards, or equivalent standards, and must meet requirements around independence, objectivity, and professional scepticism.
• The applicant must publish an annual transparency report on its website containing the information required by EU Regulation 537/2014, or comply with equivalent disclosure requirements.