Confidentiality

Pursuant to the provisions of section 31 of the Companies (Auditing and Accounting) Act, 2003, the Board and officers of the Authority operate under a statutory duty of confidentiality. Accordingly, information obtained in the performance of the Authority’s functions and the exercise of its powers may only be disclosed in accordance with law.

As provided for by the Act, the circumstances under which it is permissible for the Authority to disclose information that has been obtained through the performance of its statutory functions and exercise of its statutory powers, and that has not otherwise come to the notice of members of the public, include:

• if the disclosure of the information is, in the opinion of the Supervisory Authority, necessary to enable it to state the grounds on which it makes a decision under sections 23, 24 or 26 of the Act;
• if the information is, in the opinion of the Supervisory Authority, connected with the functions of, and if the disclosure is to made to, any of the following:
  • the Minister for Enterprise, Trade & Employment (or to the extent delegated, to the Minister for Trade & Commerce);
  • the Minister for Finance;
  • An Garda Síochána (the Irish police force);
  • the Director of Public Prosecutions;
  • the Director of Corporate Enforcement;
  • the Revenue Commissioners;
  • the Comptroller & Auditor General;
  • the Central Bank & Financial Services Authority of Ireland;
  • the Irish Takeover Panel;
  • the Irish Stock Exchange;
  • the Pensions Board;
  • a prescribed accountancy body;
  • a member of a recognised accountancy body who is qualified for appointment as an auditor;
  • an inspector appointed under any enactment;
  • any person prescribed under section 48(1)(i) for the purposes of section 31 of the Act. For details of the organisations prescribed under section 48(1)(i), please see S.I. 619 of 2006.