SCHEDULES
SCHEDULE 11Recognition of Supervisory Body
Part IIRequirements for Recognition
Meeting of claims arising out of audit work
13
1
The body must have adequate rules or arrangements designed to ensure that persons eligible under its rules for appointment as a company auditor take such steps as may reasonably be expected of them to secure that they are able to meet claims against them arising out of company audit work.
2
This may be achieved by professional indemnity insurance or other appropriate arrangements.