Request For Audit Services Template for Ireland

When your organization needs to engage audit services in Ireland, a Request For Audit Services document is essential for ensuring a compliant and transparent selection process. This formal procurement document allows you to solicit proposals from qualified audit firms while meeting your statutory obligations under Irish company law and EU regulations.

When do you need this document?

You need a Request For Audit Services when your company faces mandatory auditor rotation under the Companies Act 2014, typically every ten years for public interest entities. You'll also use this document when appointing your first statutory auditor, replacing an existing auditor due to resignation or removal, or when establishing audit services for a newly incorporated company. If your organization crosses the audit threshold requirements under Irish law, or if you're a subsidiary of an EU parent company subject to group audit requirements, this document becomes crucial for compliance. Public bodies and state-owned enterprises also use this document to ensure transparent procurement of audit services in line with public contract regulations.

Key legal considerations

Your Request For Audit Services must address auditor independence requirements under the European Union (Statutory Audits) Regulations 2016, including restrictions on non-audit services and cooling-off periods for audit partners. You need to specify the required professional qualifications, ensuring prospective auditors hold appropriate authorisation from recognised supervisory bodies like Chartered Accountants Ireland or ACCA Ireland. The document should outline your organization's corporate governance framework and any specific industry regulations that may apply. You must also consider GDPR compliance when handling personal data during the audit process, including confidentiality clauses and data protection measures. Professional indemnity insurance requirements and limitation of liability clauses need careful consideration to protect both parties while maintaining auditor independence.

Legal requirements in Ireland

Under the Companies Act 2014, your Request For Audit Services must comply with statutory audit appointment procedures, including shareholder approval requirements and proper notification to the Companies Registration Office. The document must specify audit tenure limits and rotation requirements, particularly for public interest entities subject to mandatory rotation every ten years with a four-year cooling-off period. You need to address the prohibition on certain non-audit services and ensure your selection criteria align with auditor independence rules. The Companies (Statutory Audits) Act 2018 requires compliance with EU audit quality standards and audit committee oversight where applicable. Your document must also consider the Criminal Justice (Money Laundering and Terrorist Financing) Acts if your organization falls within specified sectors, ensuring your chosen auditor can meet enhanced due diligence requirements for beneficial ownership reporting and suspicious transaction monitoring.