The principal objectives of the Authority, which are set out in section 904 of the Companies Act 2014, are:
- To supervise how the prescribed accountancy bodies regulate and monitor their members;
- To promote adherence to high professional standards in the auditing and accountancy profession;
- To 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
- To act as a specialist source of advice to the Minister for Jobs, Enterprise & Innovation on auditing and accounting matters.
Further details on the Authority’s role, functions and powers can be found here