Irish regulators tell British auditors to re-register for post-Brexit accreditation
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The UK’s largest audit firms have been warned that they need to take immediate action if they want to continue signing off on the British entities listed in Dublin after Brexit.
The Irish Auditing and Accounting Supervisory Authority has said that UK firms must start immediate preparations to re-register as “third country” auditors in Ireland before March 29.
Up to 200 Irish audit firms that belong to the Association of Chartered Certified Accountants and other UK-based accountancy bodies will be unaffected by Brexit.
But around 20 of the UK’s biggest audit firms have clients listed on Euronext Dublin, mostly on the exchange’s market for debt securities.
And legal opinion from the Irish attorney-general Séamus Woulfe stresses that UK audit firms risk losing their automatic right to undertake cross-border audits in Ireland in the event of a no-deal Brexit.
However, according to the attorney-general, their audit right in Ireland will remain protected.
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