Companies Act 2014 section 906

General powers

Section 906 sets out the broad general powers of the Irish Auditing and Accounting Supervisory Authority (IAASA), including its power to adopt rules and guidelines and to seek court orders to enforce compliance.

• IAASA has wide-ranging power to do anything it considers necessary, advantageous, or incidental to carrying out its functions, provided this does not conflict with any legislation
• IAASA may adopt rules and issue guidelines on any matter related to its functions, including those arising under EU Regulation 537/2014 on statutory audit
• Where a prescribed or recognised accountancy body, or any other person with relevant obligations, fails or may fail to comply with IAASA's rules, guidelines, conditions, notices, or directions, IAASA can apply to the court for an enforcement order compelling compliance
• Relevant obligations include those arising from transparency law for regulated markets (including sustainability reporting), Parts 27 and 28 of the Companies Act 2014, EU Regulation 537/2014, and rules adopted by IAASA relating to its supervisory functions