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The Statutory Auditors and Third Country Auditors Regulations 2007

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Notification of matters relevant to other EEA States

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7.—(1) After section 1223 of the Companies Act 2006(1) (matters to be notified to the Secretary of State) insert—

“Notification of matters relevant to other EEA States

1223A.—(1) A recognised supervisory body must notify the Secretary of State of—

(a)any withdrawal of a notifiable person’s eligibility for appointment as a statutory auditor; and

(b)the reasons for the withdrawal.

(2) A recognised supervisory body must also notify the Secretary of State of any reasonable grounds it has for suspecting that—

(a)a person has contravened the law of the United Kingdom, or any other EEA State or part of an EEA State, implementing the Audit Directive, and

(b)the act or omission constituting that contravention took place on the territory of an EEA State other than the United Kingdom.

(3) In this section “notifiable person” means a member of the recognised supervisory body in question—

(a)who is also an EEA auditor; and

(b)in respect of whom the EEA competent authority is not the recognised supervisory body itself.”.

(2) In section 1223A of the Companies Act 2006, subsection (1) only applies to EEA auditors who have been appointed as statutory auditor for financial years beginning on or after 6th April 2008.

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