Companies Act 2014 section 914

Funding

Section 914 deals with how the Irish Auditing and Accounting Supervisory Authority is funded each financial year, through a combination of government grants and levies on accountancy bodies.

• The Supervisory Authority is entitled to receive a government grant each financial year, funded by the Oireachtas.
• The grant may not exceed 40 per cent of the approved annual programme of expenditure for that year.
• The grant is subject to any conditions the Minister considers appropriate.
• The Supervisory Authority may also impose levies on prescribed accountancy bodies and certain companies to fund its activities.