The Register of Recognized Auditors was updated on 6 March 2025.
The AOA starts the registration of auditors.
Michael Austin, who has served as the AOA's Chairman since its inception, retired effective 3 May 2022. Alister Mason, the present Deputy Chairman, will act as chairman.
Glen Wigney has been appointed as a director effective 22 November 2021 to serve through 3 May 2022.
Michael Austin has been reappointed as the Chairman and Alister Mason has been reappointed as a director, also assuming the role as Deputy Chairman.
Don Cockburn, who has served as the AOA's Managing Director since December 2013, has retired. From 1 October 2019, Paul Anderton assumed the role of acting Managing Director effective 1 October 2019.
PwC has withdrawn from the Register of Recognized Auditors; the effective date of the withdrawal was 10 May 2019.
Ernst & Young Ltd. was admitted to the Register of Recognized Auditors effective 15 March 2019.
BDO has withdrawn from the Register of Recognized Auditors; the effective date of the withdrawal was 22 January 2019.
Grant Thornton has withdrawn from the Register of Recognized Auditors; the effective date of the withdrawal was 5 June 2018.
The Rules effective 31 October 2017 replace those in effect from 1 December 2014 which have been amended to make provision for “designated companies” and “Authority specified companies” as defined in the Auditors Oversight Law (2017 Revision).
AOA becomes one of 22 signatories to the International Forum of Independent Audit Regulators' Multilateral Memorandum of Understanding for co-operation in the exchange of information between audit regulators around the world.
In March 2017, IFIAR released its fifth annual survey of findings identified by its Members in their individual inspections of audit firms affiliated with six large, international audit firm networks.
The Auditors Oversight Law, 2011 ("AOL") established the AOA and the scope of its operations. The Auditors Oversight (Amendment) Law, 2016 was gazetted on 5 December 2016, making some changes to the AOL.
On 25 July 2016, the EC extended the transitional period granted to the Cayman Islands oversight system for financial years starting from 1 August 2016 to 31 July 2018.
Sue Winspear replaces Garnet Harrison on the AOA Board in July 2016.
European Commission's process of assessing "equivalency" of the AOA oversight regime has begun
AOA completes first inspection
The AOA has gazetted the listing of EU "regulated" markets under Section 2 of the Auditors Oversight Law, 2011.
Regulations to the AOL and Rules have been published
The AOA operates a system of oversight, quality assurance and investigation. We have powers to take disciplinary action when considered warranted.
Register of recognized auditors: We maintain and publish the register of recognized auditors: [Register].
Details of the registration process can be found here:[ registration process]
Rules: We publish Rules which recognized auditors are required to follow and which also govern certain aspects of the interaction between the AOA and those under its regulation and supervision, including establishing appeals and dispute resolution procedures.
In certain instances the Rules continue to apply notwithstanding that registration has ceased.
The information on the Rules can be found here: [Rules]
Inspections: Periodic, risk-based inspections are our primary quality assurance tool. We have contracted the Institute of Chartered Accountants in England & Wales to conduct inspections under our direction. The AOA controls the timing, scoping, file selection, reporting and any disciplinary consequences of the inspection process.
Details of the inspection process can be found here:[inspection process]
Investigations: When considered necessary we will carry out investigations relating to a specific audit or series of audits, or the conduct of a recognized auditor.
Disciplinary measures: The AOA can take disciplinary action against auditors in specified circumstances, including when a breach of the Rules occurs. The sanctions are wide ranging and include imposing fines, restrictions and other requirements and, ultimately (subject to an appeal to the courts), revoking a recognized auditor’s registration to audit market traded companies.
Details of the disciplinary measures taken by the AOA can be found here: [disciplinary measures taken]
Reporting: We publish our findings at least once annually: [inspection reports]
Policy statements and Guidance notes: We publish policy statements and guidance notes here: [policy and guidance].
International cooperation: We cooperate with other equivalent, competent authorities around the world; details can be found here: [international cooperation].
The AOA joined the International Forum of Independent Audit Regulators in February 2014.
