Explanatory Notes

Companies Act 2006

2006 CHAPTER 46

8 November 2006

Commentary

Schedule 5: Communications by a company

Part 42: Statutory Auditors

Chapter 1: Introductory
Sections 1209 to 1211: Introductory

1546.Part 2 of the 1989 Act regulates only the auditors of companies. Section 1210(1) defines the meaning of statutory auditor more broadly. Persons within subsection (1)(a) to (g) are ‘statutory auditors’. This list includes those persons who audit companies (as required under Part 16 of the Act) and those who audit building societies, insurers and banks. In addition, the Secretary of State has a power to add auditors of other persons to this list. Section 1211 cross-refers the eligibility for appointment as a statutory auditor to the requirements contained in Chapter 2 or Chapter 3 of this Part of the Act.