Pursuant to its powers under section 931(4) of the Companies Act 2014 (‘the Act’), the Irish Auditing and Accounting Supervisory Authority (‘the Authority’) has decided to revoke the recognition of the Institute of Certified Public Accountants granted under S.930 of the Act with effect from 1 September 2024. This means that CPA may no longer authorise individuals or firms as statutory auditors in Ireland or undertake any audit related regulatory functions. This decision follows the application by the CPA to the Authority for revocation of its recognition in light of its amalgamation with Chartered Accountants Ireland.
By virtue of the revocation of its recognition, CPA is no longer a prescribed accountancy body under the Act and therefore, no longer comes under the remit of the Authority.