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What is a “relevant audit client”?

  • For the purposes of registration in Ireland, a relevant audit client is a company incorporated outside the EU/EEA whose transferable securities are admitted to trading on a regulated market in Ireland within the meaning of point 14 of Article 4(1) of Directive 2004/39/EC. This refers to an issuer as defined in Article 2(1)(d) of Directive 2004/109/EC, except when:
    1. The company is an issuer exclusively of debt securities admitted to trading on a regulated market in Ireland within the meaning of Article 2(1)(c) of Directive 2004/109/EC, from 31 December 2010, the denomination per unit of which is at least €100,000 or, in case of debt securities denominated in another currency, equivalent, at the date of issue, to at least €100,000; or in the case of debt securities admitted to trading prior to 31 December 2010, the denomination per unit of which is at least EUR 50,000 or, in case of debt securities denominated in another currency, equivalent, at the date of issue, to at least EUR 50,000; or
    2. The company is an issuer exclusively of units issued by collective investment undertakings other than closed-end type, or units acquired or deposited of in such collective investment undertakings within the meaning of Article 1 (2) of Directive 2004/109/EC.

    The applicant should only include current Audit clients.