Auditing and Assurance Standards and Guidance

Ethical Standards for Auditors

Ethical Standard(s) for Auditors - applicable in Ireland - applicable for periods beginning before 17 June 2016

Regulation (EU) 537/2014 on specific requirements regarding statutory audit of public-interest entities and repealing Commission Decision 2005/909/EC

Title IV Surveillance of the activities of statutory auditors and audit firms carrying out statutory audit of public-interest entities
Chapter I Competent authorities
Article 20 Designation of competent authorities
1.Competent authorities responsible for carrying out the tasks provided for in this Regulation and for ensuring that the provisions of this Regulation are applied shall be designated from amongst the following:
(a)the competent authority referred to in Article 24(1) of Directive 2004/109/EC;
(b)the competent authority referred to in point (h) of Article 24(4) of Directive 2004/109/EC;
(c)the competent authority referred to in Article 32 of Directive 2006/43/EC.
2.By way of derogation from paragraph 1, Member States may decide that the responsibility for ensuring that all or part of the provisions of Title III of this Regulation are applied is to be entrusted to, as appropriate, the competent authorities referred to in:
(a)Article 48 of Directive 2004/39/EC;
(b)Article 24(1) of Directive 2004/109/EC;
(c)point (h) of Article 24(4) of Directive 2004/109/EC;
(d)Article 20 of Directive 2007/64/EC;
(e)Article 30 of Directive 2009/138/EC;
(f)Article 4(1) of Directive 2013/36/EU;
or to other authorities designated by national law.
3.Where more than one competent authority has been designated pursuant to paragraphs 1 and 2, those authorities shall be organised in such a manner that their tasks are clearly allocated.
4.Paragraphs 1, 2 and 3 shall be without prejudice to the right of a Member State to make separate legal and administrative arrangements for overseas countries and territories with which that Member State has special relations.
5.The Member States shall inform the Commission of the designation of competent authorities for the purposes of this Regulation.
The Commission shall consolidate this information and make it public.
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