SCHEDULES
SCHEDULE 10Recognised supervisory bodies
Part 2Requirements for recognition of a supervisory body
6Holding of appropriate qualification
1
The body must have rules to the effect that a person is not eligible for appointment as a statutory auditor unless—
a
in the case of an individual, he holds an appropriate qualification,
b
in the case of a firm—
i
each individual responsible for statutory audit work on behalf of the firm is eligible for appointment as a statutory auditor, and
ii
the firm is controlled by qualified persons (see paragraph 7 below).
2
Sub-paragraph (1) does not prevent the body from imposing more stringent requirements.
3
A firm which has ceased to comply with the conditions mentioned in sub-paragraph (1)(b) may be permitted to remain eligible for appointment as a statutory auditor for a period of not more than three months.