The main elements of the Irish law are the following:
- Mandatory audit firm rotation must take place every 10 years.
- Ireland does not allow the extension of this period by tender or joint audit.
- Key audit partners must rotate after 5 years.
- No additional items have been added to the EU list of prohibited non-audit services.
- Ireland has made use of its option to allow certain tax services to be provided if the auditor can satisfy certain requirements of independence.
- The fee cap for non-audit services is maintained at 70%, as established in the EU legislation.
For a more detailed overview of Ireland’s implementation measures, please consult our information sheet.