Directive 2006/43/EC of the European Parliament and of the CouncilShow full title

[F1 Article 22b U.K. Preparation for the statutory audit and assessment of threats to independence

Member States shall ensure that, before accepting or continuing an engagement for a statutory audit, a statutory auditor or an audit firm assesses and documents the following:

• whether he, she or it complies with the requirements of Article 22 of this Directive;

• whether there are threats to his, her or its independence and the safeguards applied to mitigate those threats;

• whether he, she or it has the competent employees, time and resources needed in order to carry out the statutory audit in an appropriate manner;

• whether, in the case of an audit firm, the key audit partner is approved as statutory auditor in the Member State requiring the statutory audit;

Member States may provide simplified requirements for the audits referred in points (b) and (c) of point 1 of Article 2.]

Textual Amendments

F1 Inserted by Directive 2014/56/EU of the European Parliament and of the Council of 16 April 2014 amending Directive 2006/43/EC on statutory audits of annual accounts and consolidated accounts (Text with EEA relevance).