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What is the role of the Authority?

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