Annual_Report2014

Annual Report 2014
Irish Auditing & Accounting Supervisory Authority
80
Activity Planned output 2014 Actual Output & Commentary
Implement an online system of receipt
of notification of cessation of office by
an auditor.
Refer regulatory matters of concern
to other regulatory agencies where
appropriate and accept referrals from
other agencies relating to matters
under IAASA’s regulatory remit.
Liaise and develop cooperation
agreements where possible with
international counterparts.
Perform a review of the Section 23 and
24 processes.
• Implementation of an online
system of notification of cessation
of office by an auditor.
• Referrals made to other regulatory
agencies and action taken on third
party referrals.
• Attend at AAC meetings;
• Engagement with the US PCAOB
in respect of developing a
Statement of Protocol; and
• Assistance provided to other
regulatory agencies and
international counterparts.
• Review of Section 23 process to be
commenced; and
• Consideration of the Section 24
process as part of the audit reform
process to be commenced.
• Notification of cessation of
office forms now available for
completion on the IAASA website,
with automatic population of a
notifications database.
• Referrals to other regulatory
agencies on 11 occasions during the
year; and
• Receipt of seven notifications from
the ODCE, which were processed
as complaints by the PABs in
accordance with their approved
procedures.
• Attended 9 AAC meetings; and
• Progressed draft Statement of
Protocol to advanced stage with
PCAOB representatives.
• Review of the Section 23 process
ongoing but pended pending
promulgation of the 2014 Act; and
• Review of the Section 24 process
pended pending promulgation of
the 2014 Act.
Strategic Goal III:
To promote adherence to high professional standards by accountants, auditors and preparers of financial reports
Promote best practice in the financial
reporting of issuers through our
examination and enforcement
processes.
• Potential publications as set out in
Principal Activity III below;
• Communicating developments of
Irish interest from AC of FRC and
ESMA to a domestic audience;
• Responding to queries and
enquiries from stakeholders; and
• Promotion of high quality financial
reporting to stakeholders through
meetings and presentations.
• Publications as detailed in the
section below; and
• Responses provided to 139 queries
relating to IAASA’s supervision
of the accountancy and auditing
profession.