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IAASA issues Consultation Paper on proposal to issue Companies Act 2014 Section 933 Regulations

IAASA has today issued a consultation paper seeking views with regard to IAASA’s proposal to issue Companies Act 2014 (Procedure Governing the Conduct of Section 933 Enquiries) Regulations 2019 (‘S933 Regulations’).


The Consultation Paper is available here.


The draft S933 Regulations are available here.


IAASA was established by the Companies (Auditing and Accounting) Act 2003 (‘the 2003 Act’). Section 23 of that Act provided that IAASA had the power to carry out enquiries for the purpose of determining whether a prescribed accountancy body had complied with its approved investigation and disciplinary procedures. IAASA issued Regulations setting out the procedures to be followed in conducting enquiries under section 23. The most recent version of these Regulations, issued in 2012, are available here


The new Companies Act 2014 consolidated Irish company legislation into a single Act. In 2018, the Companies Act 2014 was amended by the Companies (Statutory Audits) Act 2018. The amendments included a number of substantive changes to the provisions relating to the conduct of enquiries by IAASA under Section 933 (previously Section 23 of the 2003 Act), as set out in Section 2 of the Consultation Paper.

The proposed Regulations have been drafted to reflect the provisions of the Companies Act 2014, as amended, and to amend the operation of the S933 enquiry process to improve its effectiveness and to enable enquiries to be conducted and concluded in a more efficient manner.


IAASA welcomes comments and views from stakeholders and interested parties by 5pm on 27th September 2019.


IAASA also intends in the near future to issue a further consultation seeking views on draft regulations setting out the procedures to be followed in conducting investigations under Section 934 of the Companies Act 2014 (“Investigation of possible breaches of standards of prescribed accountancy bodies”).