Companies Act 2014 section 934I

Reporting of relevant contraventions

Section 934I requires the Supervisory Authority, recognised accountancy bodies, and audit firms to establish mechanisms for reporting actual or suspected breaches of auditing rules and related requirements.

• The Supervisory Authority and each recognised accountancy body must set up effective mechanisms to encourage the reporting of actual or suspected relevant contraventions.
• These mechanisms must include specific procedures for receiving and following up on reports of contraventions, as well as appropriate data protection safeguards for both the reporter and the person reported on.
• Personal data must be handled in compliance with the Data Protection Acts 1988 to 2018 and the EU General Data Protection Regulation (Regulation (EU) 2016/679).
• Audit firms acting as statutory auditors must establish internal procedures enabling their employees to report actual or suspected relevant contraventions as soon as practicable after the commencement of section 35 of the Companies (Statutory Audits) Act 2018.