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Audit Commission Act 1998

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This is the original version (as it was originally enacted).

4Code of audit practice

(1)The Commission shall prepare, and keep under review, a code of audit practice prescribing the way in which auditors are to carry out their functions under this Act.

(2)A different code may be prepared with respect to the audit of the accounts of health service bodies as compared with the code applicable to the accounts of other bodies.

(3)A code prepared under this section shall embody what appears to the Commission to be the best professional practice with respect to the standards, procedures and techniques to be adopted by auditors.

(4)A code does not come into force until approved by a resolution of each House of Parliament, and its continuation in force is subject to its being so approved at intervals of not more than five years.

(5)Subsection (4) does not preclude alterations to a code being made by the Commission in the intervals between its being approved in accordance with that subsection.

(6)The Commission shall send copies of any code prepared under this section, and of any alterations made to such a code, to the Secretary of State who shall lay them before Parliament; and the Commission shall from time to time publish any such code as for the time being in force.

(7)Before preparing or altering a code applicable to any accounts, the Commission shall consult—

(a)if the accounts are or include those of health service bodies, such organisations connected with the health service as appear to the Commission to be concerned;

(b)if the accounts are or include those of other bodies, such associations of local authorities as appear to the Commission to be concerned; and

(c)in any case, such bodies of accountants as appear to the Commission to be appropriate.

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