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CU System
Irish regulator probes use of unregistered auditors
DUBLIN, Ire. (1/6/11)--Ireland's Office of the Director of Corporate Enforcement under Paul Appleby said it is investigating the possible use of unregistered auditors by several credit unions. An unregistered auditor is one who is not on the official register compiled by the Irish Companies Registration Office (CRO). Out of more than 1,500 auditors, about 85 are unregistered, said Appleby's office (Irish Independent Jan. 5). The probe will review whether companies have allowed people to pose as auditors and sign off on accounts, or whether legitimate auditors' names have been used without their knowledge to sign off on other accounts. Using unregistered auditors is a breach of the Companies Act of 1990. The CRO indicated it may use a technological solution, by giving auditors a password or encryption device in the future to make it easier to identify auditors operating illegally.


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