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PwC has withdrawn from the Register of Recognized Auditors; the effective date of the withdrawal was 10 May 2019.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BDO has withdrawn from the Register of Recognized Auditors; the effective date of the withdrawal was 22 January 2019.
Grant Thornton has withdrawn from the Register of Recognized Auditors; the effective date of the withdrawal was 5 June 2018.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
FOR IMMEDIATE RELEASE:
Auditors Oversight Authority Appoints Managing Director
George Town, Grand Cayman – The Auditors Oversight Authority (AOA), which is responsible for overseeing inspections of Cayman-based firms that audit market-traded companies, has appointed Mr Donald Cockburn as its first managing director.
Mr Cockburn will manage the daily activities of the AOA, and facilitate discussions with his foreign counterparts in order to have Cayman-based audits assessed and confirmed as having equivalent quality assurance systems to those of other countries. Because of requirements of the Alternative Investment Fund Managers Directive (AIFMD) that came into effect in July 2013, gaining recognition from EU Member States will take precedence.
‘Having an internationally recognised body in Cayman that supervises auditors alleviates the need for local firms to be subject to multiple inspections by overseas-based auditor oversight authorities’, Mr Cockburn said. He further explained that reducing the multiple inspections to one inspection per firm would save time for all concerned, and be far less disruptive to daily operations.
AOA Board Chairman Michael Austin agreed. He said he was confident that Mr Cockburn, whose appointment was effective on 19 August, will advance the work that the AOA has to do. ‘Establishing a fully functional oversight body in Cayman will once more indicate to the world that ensuring compliance with international guidelines is a top priority for the jurisdiction’, he said.
Mr Cockburn is a certified professional accountant (CPA), a former partner at Ernst & Young in Canada, and a former associate professor at the University of Waterloo (Canada). He also served as a consultant to the Cayman Islands Government during the AOA’s development phase.
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