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PwC has withdrawn from the Register of Recognized Auditors; the effective date of the withdrawal was 10 May 2019.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BDO has withdrawn from the Register of Recognized Auditors; the effective date of the withdrawal was 22 January 2019.
Grant Thornton has withdrawn from the Register of Recognized Auditors; the effective date of the withdrawal was 5 June 2018.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
A recognized auditor may withdraw for the Register by filing a Notice of Withdrawal with the AOA and paying the prescribed fee.
The Notice of Withdrawal form can be found here [withdrawal form].
The form requires the auditor to provide the following information and undertakings required by the Rules:
without having first been reinstated as a recognized auditor.
Normally, the effective date of withdrawal will be the date of receipt of a Notice of Withdrawal which will be the later of (a) the date on which the Notice of Withdrawal was served on the AOA and (b) the date on which the AOA determines that all other conditions of withdrawal (as summarized above and set out in the Rules) have been complied with.
However the AOA does have the power to specify a different effective date.
The following is a summary of the consequences of withdrawal from the Register and the continuing obligations for the auditor:
Register: The auditors name and those of its responsible individuals will be removed from the Register. As the auditor will no longer be a recognized auditor, it must not audit or hold itself out as being qualified to audit the financial statements of market traded or designated companies, nor should it hold itself out as being under the AOA's oversight in respect of audits of the financial statements of Authority specified companies with regard to which it had previously been registered with the AOA.
Fees: the auditor will not be liable for any further registration fees and will not be entitled to any refund of previously paid fees. The auditor will still be liable for any unpaid fees including the costs of the oversight.
Enquiries from the AOA: the auditor must still respond to enquiries made by the AOA in connection with any circumstance that relates to the Rules during the time the auditor was registered.
Disciplinary actions: the AOA may still take action against the auditor for any failure to comply with:
Section 200 of the Rules deals with registration, withdrawal from registration and suspension of registration. Information about and a copy of the Rules can be found here: [Rules]
Questions regarding the withdrawal process should be directed to the AOA’s Managing Director whose contact information can be found here [contact information]
