Role of the Authority

The Irish Auditing and Accounting Supervisory Authority (IAASA) was established pursuant to the provisions of Part 2 of the Companies (Auditing and Accounting) Act, 2003 (‘the Act’). The text of the Act can be accessed here.

Under section 8 of the Act, the Authority has four principal objectives, namely to:

supervise how the prescribed accountancy bodies regulate and monitor their members;
promote adherence to high professional standards in the auditing and accountancy profession;
monitor whether the accounts of certain classes of companies and other undertakings comply with the Companies Acts and, where applicable, Article 4 of the IAS Regulation; and
act as a specialist source of advice to the Minister on auditing and accounting matters.

Note: While the legislation that established the Authority comes within the remit of the Minister for Enterprise, Trade & Employment, certain on the Minister’s functions in this regard have been delegated to the Minister for Trade & Commerce.

By following the links below further information can be obtained on the Authority’s: