(i) Prescribed Accountancy Body
A Prescribed Accountancy Body is any accountancy body that comes within the supervisory remit of the Authority. There are currently six prescribed bodies:
- ACCA – Association of Chartered Certified Accountants;
- AIA – Association of International Accountants;
- CIMA – Chartered Institute of Management Accountants;
- CIPFA – Chartered Institute of Public Finance & Accountancy;
- CAI – Institute of Chartered Accountants in Ireland; and
- CPA – Institute of Certified Public Accountants in Ireland.
Links to the prescribed accountancy bodies’ websites can be found here.
(ii) Recognised Accountancy Body
A Recognised Accountancy Body is an accountancy body that has been granted recognition under section 930 of the Companies Act 2014. A recognised accountancy body is permitted to authorise its members and/or member firms to perform statutory audits and to register firms from other EU Member States to perform audits under the Companies Act, provided that they satisfy certain additional conditions. There are currently three recognised bodies:
- ACCA – Association of Chartered Certified Accountants;
- CAI – Institute of Chartered Accountants in Ireland; and
- CPA – Institute of Certified Public Accountants in Ireland.