Commission Implementing Decision (EU) 2020/589 of 23 April 2020 on the adequacy of the competent authority of the Republic of South Africa pursuant to Directive 2006/43/EC of the European Parliament and of the Council (notified under document C(2020) 2026) (Text with EEA relevance)

• CELEX: Implementing Decision (EU) 2020/589
• Articles: 4

Article 1

The Independent Regulatory Board for Auditors of South Africa meets requirements which shall be considered adequate within the meaning of Article 47(1)(c) of Directive 2006/43/EC for the purposes of transfers of audit working papers or other documents and of inspection and investigation reports under Article 47(1) of Directive 2006/43/EC.

Article 2

Member States shall ensure that where audit working papers or other documents held by statutory auditors or audit firms are exclusively held by a statutory auditor or audit firm registered in a Member State other than the Member State where the group auditor is registered and whose competent authority has received a request from the Independent Regulatory Board for Auditors of South Africa, such papers or documents shall be transferred to the requesting competent authority only if the competent authority of the first Member State has given its express agreement to the transfer.

Article 3

This Decision shall apply from 1 May 2020 to 30 April 2026.

Article 4

This Decision is addressed to the Member States.