Removal of “Public Auditor” Terminology

 


The Companies (Statutory Audits) Act 2018 which commenced in September 2018 provides for an amendment to remove the reference to “public auditor” from a number of acts, including the Credit Union Act, 1997, the Industrial and Provident Societies Act 1893 and the Friendly Societies Act 1896. The term "statutory auditor" has been inserted in its place.

The effect of this for audit firms is to allow a corporate body to act as an auditor for credit unions, Industrial and Provident Societies and Friendly Societies.