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Auditor rules praised

CHARTERED Accountants Ireland have welcomed the new rules for auditors reporting on companies who apply the UK Corporate Governance Code.

In Ireland, this essentially applies to listed companies and a number of State bodies who apply the Code voluntarily.

The amendments to International Standards on Auditing (UK and Ireland), on the content of audit reports, will apply to years ending on or after September 30.

It will require auditors to provide more information about their work relating to the audits of specific companies.

Chartered Accountants Ireland said the changes will enhance transparency.