March 2008 - Irish Auditing & Accounting Supervisory Authority

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Financial Reporting Supervision• <strong>Supervisory</strong> activities include, inter alia:– Risk assessment/selection;– Review of issuers’ periodic financial reports (under the TransparencyDirective) for compliance with relevant reporting frameworks; and– Remediation/enforcement.8
EU Transparency Directive• Article 24(4)(h) of the Directive requires Member States:“...to examine that information referred to in this Directive is drawn up inaccordance with the relevant reporting framework and take appropriatemeasures in case of discovered infringements”.• IAASA designated as the competent authority for 24(4)(h) by theMinister during 2007.• Central administrative competent authority for Directive purposes –FR9
Page 2 and 3: Presentation to theCorporate Govern
Page 4 and 5: Genesis• DIRT - PAC (1999);• RG
Page 6 and 7: Principal Functions• To supervise
Page 10 and 11: Transposition into Domestic Law•
Page 12 and 13: Issuers’ periodic financial repor
Page 14 and 15: Half-yearly financial statements•
Page 16 and 17: IAASA’s Powers• Make Rules and
Page 18 and 19: EU 8 th Company Law Directive• De
Page 20 and 21: Principal Issues/Concepts• Dismis
Page 22 and 23: Further informationIAASAWillow Hous

March 2008 - Irish Auditing & Accounting Supervisory Authority

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