Oireachtas Joint and Select Committees
Thursday, 7 November 2013
Joint Oireachtas Committee on Finance, Public Expenditure and Reform
Scrutiny of EU Legislative Proposals
6:40 pm
Mr. Aidan Carrigan:
I believe the answer is while I stated it is not being addressed in this directive, about which we are talking to members and on which we have prepared, auditors are obliged to operate within a legal framework that applies to them. If they fail to operate to the standards required of auditors, there are arrangements for dealing with this within the legislative framework in which auditors operate. That is a matter for company law. There is a European accounting directive, as well as various legislative mechanisms that require auditors to perform to a certain standard.
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