Corporate Enforcement Authority Report

Posted in Our Blog, Regulations

The Corporate Enforcement Authority which commenced in July 2022 issued a report covering the 18 month period to 31 December 2023.

They received 239 indictable offence reports from companies’ auditors in Ireland in that period.

The nature of the indictable offence reports included:

  • Directors loan breaches
  • Inadequate accounting records
  • False statements in returns
  • Approval of financial statements.
  • Unqualified auditor
  • Accounting standards S.291 Companies Act 2014
  • Group accounting standards S.294 Companies Act 2014.

The report stated that ‘one significant contributory factor in the context of auditor reporting is a change of auditor. Specifically, it is not unusual, where there has been a change in statutory auditor for a new auditor, having taken a different interpretation of an accounting treatment to their predecessor, to take the view that the submission of a report is necessary’.

The report includes 17 interesting case studies and you can find the full report here  CEA > Annual Reports & Strategy

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