Mazars in Ireland has committed to applying the Irish Audit Firm Governance Code (“the Code”) published by Chartered Accountants Ireland. Our support for that commitment to the professionalism, openness and risk management principles of the Code is set out in our published Transparency Report and other sections of our website. We are committed to dialogue about matters covered by the Code and you can read more about this here.
Mazars’ governance structures and management set an appropriate tone at the top through policies and practices. We seek to maintain a culture of openness that encourages people to consult and share problems, knowledge and experience in order to achieve quality work in a way that properly takes the public interest into consideration.
The terms of reference for the different management and governance bodies are accessible here.
Since the beginning of the year, several articles and speeches from the Central Bank of Ireland (CBI) have singled out the Payments Institutions (PI) and Electronic Money Institutions (EMI) sector as being of increased risk, with concerns that an operational or financial failure could cause a significantly impact the European Economic Area (EEA) financial system.
Mazars is delighted to have supported Aerospace Software Developments (ASD) on its sale to Descartes Systems Group.
On April 5, 2024, Finance Minister Michael McGrath launched a Feedback Statement (FS) on the proposed implementation of a Participation Exemption for foreign dividends within the Irish tax system. The FS invites feedback from interested parties on a “Strawman Proposal” developed for the implementation of the Participation Exemption.
Mazars Risk Committee oversees the ethics and quality assurance of the firm. It has oversight for the design and implementation of the firm’s system of quality management and ensures it is operating effectively annually through our annual quality management monitoring program. Furthermore, it deals with any claims against the practice and their resolution.
Mazars Audit Committee is responsible for monitoring and reviewing internal control, external audit, accounting, and external reporting. It aims to meet 3 times a year and whenever the external auditors request a meeting.
Mazars has elected independent non executives (INEs) within its governance structure.
The principal role of the Public Interest Committee (‘PIC’) is to enhance confidence in the public interest aspects of the firm’s activities with particular reference to high-level, general oversight of the firm’s decision-making, stakeholder dialogue, risk management, and quality control, remuneration policy and the issuance of selected annual reports to stakeholders.
The day-to-day management of Mazars in Ireland is delegated to the executive. The Executive has the responsibility for setting Mazars’ national strategy, within the overarching framework of the international strategy.
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