Companies Act 2014 section 1629

Aptitude test to be passed

Section 1629 sets out the requirement for auditors from other EU Member States or from non-EU countries who wish to be approved to carry out sustainability reporting assurance in the State to sit and pass an aptitude test, and the circumstances in which this requirement may be waived.

• A Member State auditor or third-country auditor seeking approval to perform sustainability reporting assurance in the State must pass an aptitude test demonstrating knowledge of the relevant Irish laws and practices.
• The test requirement may be waived if a recognised accountancy body is satisfied that the auditor has already demonstrated sufficient knowledge of the relevant laws and practices.
• The Supervisory Authority will issue guidelines to recognised accountancy bodies on the specific matters to consider when deciding whether an auditor has demonstrated sufficient knowledge to qualify for a waiver.
• A recognised accountancy body may charge auditors a fee, set by the Minister, to cover administrative costs of the aptitude test, and unpaid fees may be recovered through the courts as a simple contract debt.