Following the laying of the report by the Minister, IAASA has published its Annual Report for 2023. Highlights from the report include:
- Examined 43 corporate reports
- Completed a thematic review across the six Prescribed Accountancy Bodies on aspects of Investigation and Disciplinary systems
- Inspected 31 PIE audits
- Six enforcement settlement agreements resulting in fines totalling over €50,000 and one prohibition from signing audit reports
- Launched public awareness campaign to highlight the benefits of engaging an accountant who is regulated by a prescribed accountancy body
Commenting on the Annual Report, Chief Executive Officer Kevin Prendergast said:
“IAASA continues to support the highest standards of auditing and corporate reporting quality. This is achieved through our regulatory approach that sets a benchmark in terms of our expectations on quality, and where necessary a robust enforcement policy where there are significant departures from that benchmark. IAASA also maintains quality throughout the profession by the issue of high quality auditing standards and through its oversight of the regulatory activities of the prescribed accountancy bodies. Looking to the future, IAASA is preparing for the impact of the Corporate Sustainability Reporting Directive and its corporate reporting and assurance requirements. While IAASA is focussing on its public interest entity population, these will in time impact on thousands of companies in Ireland.”
Download the reports here.