Ireland prosecuted for failure to adopt EU auditing rules

IRELAND is being prosecuted through the European Court of Justice for its failure to adopt international auditing standards.

Another action is pending due to delays in cracking down on selective company reporting practices, characterised by the fiasco at Anglo Irish Bank last year.

On both counts, the Department of Enterprise, Trade and Employment has confirmed it has again deferred implementation of directives and missed summer time targets. The European Commission served a notice on the department on June 26 for both infringements.