The Law of Statutory Audits



Dáibhí O'Leary

ISBN13: 9781526527370
To be Published: 08/2024
Publisher: Bloomsbury Professional
Country of Publication: UK
Format: Hardback

An in-depth practical examination of the law relating to statutory auditors and audit firms, and the relationship of Irish companies to those auditors and firms. Irish companies generally appoint one or more statutory auditors for each financial year of the company and these auditors have a legal obligation to report on the company’s financial statements.

This book covers every facet of the statutory auditor’s role from their appointment to their duties, rights and powers, and their removal and resignation. It also deals with the legal issues that arise in the course of this work and looks at the auditor’s oversight and regulation by the Irish Auditing and Accounting Supervisory Authority.

This book is essential for all Irish companies who deal with statutory auditors and for any individual or firm providing audit services.


1. Introduction (statutory background)
2. Approval of statutory auditors
2.1 Member State / Third country audit firms
2.2 Withdrawal of approval
3. Standards applying to statutory auditors
3.1 Independence & objectivity
3.2 Confidentiality
3.3 Auditing standards to be applied
4. Appointment and remuneration of statutory auditors
5. Removal and resignation of statutory auditors
6. Audit exemption
7. Rights and powers of statutory auditors
8. Audit work
9. The statutory auditor’s report
10. Duty to report certain offences to the ODCE / CEA
11. Other statutory duties of statutory auditors
12. Liabilities of statutory auditors
13. Audit Committee and relationship with statutory auditors
14. Appointment and rotation of statutory auditors by public interest entities
15. Public Register
16. Oversight and regulation by IAASA
16.1 Quality assurance
16.2 Investigations and sanctions

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