Companies Act 2014 section 1632

Conditions for approval to carry out assurance of sustainability reporting as a statutory audit firm

Section 1632 sets out the two conditions that a firm must satisfy before it can be approved to carry out assurance of sustainability reporting.

• The section applies to Irish statutory audit firms and also to audit firms from other EU Member States, unless those Member State firms are instead seeking registration under the separate route in section 1633.
• The first condition is that the firm must already be approved and registered as a statutory audit firm under Part 27 of the Companies Act 2014.
• The second condition is that every individual who will actually perform sustainability reporting assurance work in the State on behalf of the firm must hold a personal approval to do so under this Part of the Act.
• Both conditions must be met — a firm cannot be eligible for approval if either its own registration or the personal approvals of its assurance practitioners are missing.