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 21 Conditions of independence
The competent authorities shall be independent of statutory auditors and audit firms.
The competent authorities may consult experts, as referred to in point (c) of Article 26(1), for the purpose of carrying out specific tasks and may also be assisted by experts when this is essential for the proper fulfilment of their tasks. In such instances, the experts shall not be involved in any decision-making.
A person shall not be a member of the governing body, or responsible for the decision-making, of those authorities if during his or her involvement or in the course of the three previous years that person:
(a)has carried out statutory audits;
(b)held voting rights in an audit firm;
(c)was member of the administrative, management or supervisory body of an audit firm;
(d)was a partner, employee of, or otherwise contracted by, an audit firm.
The funding of those authorities shall be secure and free from undue influence by statutory auditors and audit firms.
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