Chartered Accountants Ireland

The Companies Act 2014, as amended, and the European Union (Statutory Audits) Regulations 2016 establish the quality assurance (QA) review framework for statutory audits in Ireland. The Irish Auditing and Accounting Supervisory Authority (IAASA) conducts QA reviews of statutory auditors and audit firms that audit public interest entities (PIEs), while recognised accountancy bodies (RABs) conduct QA reviews for statutory auditors and audit firms of non-PIEs, subject to IAASA oversight. IAASA’s 2024 Annual Audit Programme and Activity Report confirms its ongoing inspection of PIE auditors and oversight of the RABs that supervise auditors of other Irish entities.

Chartered Accountants Ireland (CAI), as a RAB, is responsible for audit registration, monitoring, and related quality assurance activities for its registered statutory auditors and audit firms in Ireland. CAI’s Professional Standards Department grants and renews audit authorisations, monitors members and firms for compliance with professional standards, and may remove authorisations where appropriate.

CAI continues to support members and firms in implementing quality management requirements through technical guidance, training, and practice support. Recent resources include guidance on quality management standards and implementation support related to International Standard on Quality Management (Ireland) 1, International Standard on Quality Management (Ireland) 2, and International Standard on Auditing (Ireland) 220 (Revised), which became effective in Ireland from December 15, 2022.

Through its regulatory role as a RAB, ongoing monitoring of audit firms, and member support on quality management standards, CAI continues to demonstrate sustained fulfillment of the relevant SMO 1 requirements.

CAI is encouraged to continue supporting firms, particularly small and medium-sized practices, in embedding risk-based quality management systems and responding to findings from IAASA and RAB quality assurance reviews.

Current Status: Sustain

In Ireland, professional accountancy organizations share responsibility for establishing initial professional development and continuing professional development (CPD) requirements for their members. The Irish Auditing and Accounting Supervisory Authority (IAASA) oversees the regulatory activities of prescribed accountancy bodies, including education, training, and CPD requirements relevant to the profession.

Chartered Accountants Ireland (CAI), as a prescribed accountancy body and recognised accountancy body, establishes and implements education, practical experience, assessment, and CPD requirements for its members, students, and statutory auditors. CAI’s professional qualification includes structured education, professional examinations, and practical training requirements. Students are required to record relevant work experience through an online system and have their experience approved periodically.

CAI continues to support students and members through multiple qualification pathways, including training contract and flexible route options that apply the same education, examination, and work experience requirements. Recent developments include the introduction of a new adaptive learning methodology for CA Proficiency 1 subjects from the 2025/2026 academic year and the launch of a Training and Development Log to support the recording and review of student practical experience.

CAI also maintains CPD requirements for members and provides a broad range of professional development courses, technical updates, and online learning resources. All members are required to engage in CPD in accordance with CAI’s CPD Regulations. From January 1, 2025, legacy CPA Ireland members became subject to CAI CPD requirements following the integration of CPA Ireland into CAI.

Through its established qualification framework, practical experience requirements, CPD system, and ongoing updates to education delivery, CAI continues to demonstrate sustained fulfillment of the relevant SMO 2 requirements.

CAI is encouraged to continue monitoring updates to the International Education Standards and to document how its education, practical experience, assessment, and CPD requirements remain aligned with the current IES.

Current Status: Sustain

The Irish Auditing and Accounting Supervisory Authority (IAASA) is responsible for adopting and issuing auditing and assurance standards for use in Ireland. Statutory audits are conducted in accordance with International Standards on Auditing (Ireland), which are based on standards issued by the International Auditing and Assurance Standards Board and adapted for Irish legal and regulatory requirements.

Chartered Accountants Ireland (CAI) does not have direct responsibility for adopting auditing standards in Ireland. As a recognised accountancy body, CAI supports implementation by providing technical guidance, training, audit and assurance updates, and practical resources to members and firms. Its Technical Hub includes dedicated resources on auditing standards, audit guidance, quality management, sustainability assurance, and the audit of less complex entities.

Recent developments include IAASA’s adoption of International Standard on Assurance Engagements (Ireland) 3000 for sustainability assurance and revisions to International Standards on Auditing (Ireland), including ISA (Ireland) 505 and conforming amendments to ISA (Ireland) 600. CAI has supported members through technical updates and guidance on these developments, as well as quality management resources covering International Standard on Quality Management (Ireland) 1, International Standard on Quality Management (Ireland) 2, and ISA (Ireland) 220.

CAI also contributes to standard-setting and regulatory consultations. In 2025 and 2026, CAI submitted responses to consultations issued by IAASA, the Financial Reporting Council, the International Auditing and Assurance Standards Board, and the International Ethics Standards Board for Accountants, including matters related to future work programs and the proposed approach to the International Standard on Auditing for Audits of Financial Statements of Less Complex Entities.

Through its technical guidance, member support, consultation responses, and monitoring of audit and assurance developments, CAI continues to demonstrate sustained fulfillment of the relevant SMO 3 requirements.

CAI is encouraged to continue supporting members in implementing current and revised audit and assurance standards, including sustainability assurance requirements, and to continue engaging with IAASA on whether and how ISA for LCE may be adopted or permitted in Ireland.

Current Status: Sustain

The Irish Auditing and Accounting Supervisory Authority (IAASA) oversees ethical requirements applicable to statutory auditors and the ethical standard-setting activities of prescribed accountancy bodies in Ireland. IAASA has stated that the International Code of Ethics for Professional Accountants (including International Independence Standards) issued by the International Ethics Standards Board for Accountants forms the basis for the Ethical Standard for Auditors (Ireland) and the codes of ethics of the prescribed accountancy bodies.

Chartered Accountants Ireland (CAI), as a prescribed accountancy body, establishes ethical requirements for its members, students, affiliates, and member firms through its Code of Ethics, which is based on the IESBA Code and incorporates additional jurisdiction-specific requirements and guidance. CAI supports implementation through ethics guidance, member communications, continuing professional development, student training, and professional conduct resources.

Recent regulatory developments include IAASA’s publication of the Ethical Standard for Auditors (Ireland) 2025, which is effective for audits of financial statements for periods beginning on or after December 15, 2026, with early adoption permitted. CAI has issued technical updates and resources to support members in understanding the revised Ethical Standard and related ethics requirements.

CAI also monitors international ethics developments and contributes to standard-setting consultations. In 2025 and 2026, CAI responded to International Auditing and Assurance Standards Board and IESBA consultations, including the IESBA consultation on auditor independence for collective investment vehicles and pension funds and the joint IAASB and IESBA survey on their proposed 2028-2031 strategy and work program.

Through its Code of Ethics, implementation support, continuing professional development activities, and engagement in ethics standard-setting, CAI continues to demonstrate sustained fulfillment of the relevant SMO 4 requirements.

CAI is encouraged to continue supporting members in implementing the Ethical Standard for Auditors (Ireland) 2025 and to monitor the implementation of new IESBA sustainability assurance ethics and independence requirements.

Current Status: Sustain

The Department of Public Expenditure, Infrastructure, Public Service Reform and Digitalisation is responsible for establishing public sector accounting policy and guidance in Ireland. In 2019, the Government approved the transition of central government departments and offices to an accrual accounting framework based on International Public Sector Accounting Standards (IPSAS). The Department is developing Central Government Accounting Standards (CGAS), which are IPSAS-based and adapted to the Irish financial reporting framework.

Chartered Accountants Ireland (CAI) does not have direct responsibility for adopting public sector accounting standards in Ireland. CAI supports implementation and awareness through public sector training, technical resources, and engagement with members working in government, public bodies, and not-for-profit organizations.

Recent activities include CAI’s Certificate in Public Sector Accounting, which was updated in 2025 to cover the latest additions to CGAS and support professionals involved in the implementation, management, and oversight of the new framework. CAI also continues to offer public sector continuing professional development and networking events, including its Public Sector Conference, to address developments affecting finance professionals in the public sector.

CAI has also contributed to public sector accounting reform through thought leadership, including its position paper on the reform of Ireland’s public sector accounting, which supported the Government’s movement toward IPSAS-based accrual reporting.

Through its training, technical resources, public sector engagement, and support for Ireland’s CGAS implementation, CAI continues to demonstrate sustained fulfillment of the relevant Statement of Membership Obligation 5 requirements.

CAI is encouraged to continue supporting members and public sector stakeholders in implementing CGAS and to promote awareness of updates to IPSAS as Ireland’s accrual accounting reform progresses.

Current Status: Sustain

In Ireland, responsibility for investigation and discipline (I&D) is shared between the Irish Auditing and Accounting Supervisory Authority (IAASA) and the prescribed accountancy bodies (PABs). IAASA oversees the quality assurance and disciplinary procedures of the five PABs operating in Ireland and supervises recognised accountancy bodies in the performance of investigation and disciplinary functions related to statutory auditors and audit firms.

Chartered Accountants Ireland (CAI), as a PAB and recognised accountancy body, maintains an established I&D system for members, students, affiliates, member firms, statutory auditors, and audit firms. CAI’s complaints and disciplinary process provides for written complaints, investigation, referral to disciplinary proceedings where appropriate, public disciplinary hearings, publication of decisions in accordance with its publication policy, and appeal procedures.

Recent developments include updated CAI Disciplinary Bye-Laws effective September 1, 2024 and Disciplinary Regulations effective October 1, 2025. Following the integration of CPA Ireland into CAI, new complaints received after September 1, 2024 relating to former CPA Ireland members or firms are processed under CAI’s Disciplinary Bye-Laws and Regulations.

IAASA continues to oversee the effectiveness of the jurisdiction-level I&D framework. Its 2024 Annual Report notes continued phased review of recognised accountancy bodies’ I&D processes, including recommendations on the initial stages of the process and further review of investigation outcomes and appeals.

Through its established complaints and disciplinary framework, updated disciplinary rules, public reporting of disciplinary outcomes, and responsiveness to IAASA oversight, CAI continues to demonstrate sustained fulfillment of the relevant SMO 6 requirements.

CAI is encouraged to continue reviewing its I&D procedures in light of IAASA’s phased reviews and to ensure transparent reporting and timely resolution of complaints and disciplinary matters.

Current Status: Sustain

The Companies Act 2014, as amended, establishes the financial reporting framework applicable to companies in Ireland. As a member of the European Union (EU), Ireland requires companies whose securities are admitted to trading on an EU regulated market to prepare consolidated financial statements in accordance with International Financial Reporting Standards (IFRS) Accounting Standards as adopted by the EU. Other entities may apply Financial Reporting Standard (FRS) 102, EU-adopted IFRS, or other frameworks permitted under Irish law.

Chartered Accountants Ireland (CAI) does not have direct responsibility for the adoption of accounting standards in Ireland. CAI supports implementation through technical guidance, financial reporting updates, continuing professional development, and specialist training for members. Its Technical Hub includes resources on IFRS, FRS 102, company law reporting requirements, and related financial reporting developments.

CAI continues to monitor and communicate international standard-setting developments to members, including updates issued by the International Accounting Standards Board and European endorsement developments. Recent resources include member updates and articles on IFRS 18 and other financial reporting developments, as well as technical guidance on sustainability reporting.

Recent jurisdictional developments include the implementation of Corporate Sustainability Reporting Directive requirements in Ireland. CAI published Technical Release TR 01/2025, Guidance on the Corporate Sustainability Reporting Directive, to support members in understanding the scope, timelines, and application of the new reporting requirements.

Through its technical resources, member communications, professional development, and support on financial and sustainability reporting developments, CAI continues to demonstrate sustained fulfillment of the relevant SMO 7 requirements.

CAI is encouraged to continue supporting members in implementing new and revised IFRS Accounting Standards, including IFRS 18, and to continue expanding practical guidance on sustainability reporting requirements as the Irish framework evolves.

Current Status: Sustain