The Irish government implemented the EU regulation by process of Statutory Instrument (S.I. No. 312 of 2016) on 15 June 2016. The new rules entered into force on 17 June 2016.

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.

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