Companies Act 2014 section 1640

Approval of third-country auditors to carry out assurance of sustainability reporting

Section 1640 sets out the conditions under which a recognised accountancy body may approve an auditor from outside the EU (a "third-country auditor") to carry out assurance work on sustainability reporting, including the requirement for reciprocal arrangements with the auditor's home country.

• A recognised accountancy body may approve a third-country auditor for sustainability reporting assurance if the auditor demonstrates compliance with requirements equivalent to those for domestic qualification.
• Approval is conditional on reciprocal arrangements being in place with the auditor's home country.
• Those reciprocal arrangements must allow Irish statutory auditors to perform sustainability reporting assurance in that country under its own laws.
• The requirements imposed on Irish auditors seeking to work in the third country must be no more onerous than those applied to the third-country auditor seeking approval here.