Incorporated Public Accountants who achieve the training required by the European Communities (Statutory Audits) (Directive 26/43/EC) Regulations 2010, may in addition to operating as a Professional Accountant, take on clients requiring Statutory Audits. Statutory Audits involve reviewing the financial statements of a company and offering a formal opinion on whether the accounts give a “true and fair” representation of the underlying financial position of the company (the Audit Opinion).
Auditors provide a very important assurance service to the shareholders of the company that they are auditing. This service is considered so important that Governments and the European Union, have established considerable bodies of law on the of the operations of companies and the role of the auditor.
You can find more details on how to qualify as an Statutory Auditor with the Institute of Incorporated Public Accountants here.