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Companies (Statutory Audits) Act 2018 (No. 22)Introductory TextActs Referred toPart 1 Preliminary and general (ss. 1-3)1. Short title, collective citations, construction and commencement2. Definition3. Repeals and revocationsPart 2 Amendment of Principal Act (ss. 4-53)4. Amendment of section 2 of Principal Act5. Amendment of section 35 of Principal Act6. Amendment of section 322 of Principal Act7. Amendment of section 336 of Principal Act8. Amendment of section 337 of Principal Act9. Amendment of section 346 of Principal Act10. Amendment of Principal Act - substitution of sections 363 and 36411. Amendment of section 380 of Principal Act12. Amendment of section 390 of Principal Act13. Amendment of section 394 of Principal Act14. Amendment of section 865 of Principal Act15. Amendment of section 869 of Principal Act16. Function imposed on Registrar under section 930D17. Amendment of section 900 of Principal Act18. Amendment of section 904 of Principal Act19. Amendment of section 905 of Principal Act20. Amendment of section 906 of Principal Act21. Amendment of section 907 of Principal Act22. Amendment of section 915 of Principal Act23. Amendment of section 916 of Principal Act24. Amendment of section 918 of Principal Act25. Amendment of section 919 of Principal Act26. Amendment of section 930 of Principal Act27. Amendment of Principal Act insertion of sections 930A to 930D28. Provisions in relation to recognition by Supervisory Authority under section 93029. Amendment of section 931A of Principal Act30. Provisions that apply when recognised accountancy body is not able to perform Part 27 function31. Consultation by Supervisory Authority regarding standards and qualifications32. Intervention in disciplinary process of prescribed accountancy bodies and supervision of recognised accountancy bodies33. Resolution of suspected non-compliance by agreement relevant body34. Investigation of possible breaches of standards of prescribed accountancy bodies or relevant contraventions by statutory auditors35. Amendment of Principal Act insertion of sections 934A to 934I36. Amendment of section 935 of Principal Act37. Amendment of Principal Act insertion of sections 936A and 936B38. Amendment of section 937 of Principal Act39. Amendment of section 938 of Principal Act40. Amendment of section 940 of Principal Act41. Amendment of section 941 of Principal Act42. Amendment of section 942 of Principal Act43. Amendment of section 943 of Principal Act44. Amendment of section 949 of Principal Act45. Amendment of Principal Act insertion of sections 957A to 957I46. Amendment of section 1097 of Principal Act47. Amendment of section 1291 of Principal Act48. Amendment of section 1305 of Principal Act49. Amendment of section 1401A of Principal Act50. Amendment of section 1438 of Principal Act51. Statutory audits52. Amendment of Schedule 5 to Principal Act53. Amendment of Principal Act - insertion of SchedulesPart 3 Consequential amendments (ss. 54-75)54. Definitions (Part 3)55. Amendment of section 13 of Act of 189356. Amendment of section 14 of Act of 189357. Amendment of section 16 of Act of 189358. Penalties for certain offences59 Amendment of section 75 of Act of 189360. Amendment of section 79 of Act of 189361. Amendment of Schedule II to Act of 189362. Amendment of section 26 of Act of 189663. Amendment of section 27 of Act of 189664. Amendment of section 80 of Act of 189665. Offence to contravene section 26(4) or (5)66. Amendment of section 100 of Act of 189667. Amendment of section 106 of Act of 189668. Amendment of section 2 of Industrial and Provident Societies (Amendment) Act 191369. Amendment of section 10B of Ministerial and Parliamentary Offices Act 193870. Amendment of section 8 of Seanad Electoral (Panel Members) Act 194771. Amendment of section 25C of Electoral Act 199272. Amendment of section 114 of Credit Union Act 199773. Amendment of Electoral Act 199774. Amendment of Irish Collective Asset-management Vehicles Act 201575. Amendment of European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations 2011Schedule 1Schedule 2
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AI Summary of Introductory Text

This Act aims to enhance compliance with Directive 2006/43/EC concerning statutory audits of annual and consolidated accounts. It updates existing regulations to ensure alignment with recent amendments introduced by Directive 2014/56/EU and Regulation (EU) No. 537/2014, focusing specifically on public-interest entities.

The legislation further amends the Companies Act 2014 and introduces provisions to modernise associated legal frameworks. This Act serves as a critical update for legal and compliance professionals, ensuring robust regulatory compliance and facilitating improved governance practices within the audit sector.

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Version status: | Document consolidation status: No known changes
Version date: 25 July 2018 - onwards

Introductory Text

An Act to give further effect to Directive 2006/43/EC of the European Parliament and of the Council of 17 May 2006 [OJ No. L 157, 9.6.2006, p.87] on statutory audits of annual accounts and consolidated accounts, amending Council Directives 78/660/EEC and 83/349/EEC and repealing Council Directive 84/253/EEC, as amended by Directive 2014/56/EU of the European Parliament and of the Council of 16 April 2014 [OJ No. L 158, 27.5.2014, p.196] amending Directive 2006/43/EC on statutory audits of annual accounts and consolidated accounts, and giving further effect to certain provisions of Regulation (EU) No 537/2014 of the European Parliament and of the Council of 16 April 2014 [OJ No. L 158, 27.5.2014, p.77] on specific requirements regarding statutory audit of public-interest entities and repealing Commission Decision 2005/909/EC and, for that purpose, to amend the Companies Act 2014; to make provision for certain other amendments to that Act; to provide for the amendment of certain other enactments; and to provide for related matters.

[25th July, 2018]

Be it enacted by the Oireachtas as follows:

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