The Financial Reporting Council (the audit regulator in the UK) has published “Memorandum of Understanding on Reciprocal Arrangements with IAASA” (its Irish equivalent, the Irish Auditing and Accounting Supervisory Authority). Up to the time of Brexit, UK and Irish auditors with a dual-registered body enjoyed full, automatic mutual recognition. An auditor with a UK audit licence was automatically entitled to an Irish one, and vice versa.
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