The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019 No. 177

PART 3 U.K. Amendment of subordinate legislation

70.  In regulation 9 (monitoring of audits by the competent authority)—

(a) for paragraph (6)(b)(ii) substitute—

“(ii) equivalent work, for the purposes of an appointment of a person to conduct inspections made prior to [F1 IP completion day], on the audit of accounts under the law of an EEA State, or part of an EEA State, or Gibraltar, or

(iii) equivalent work, for the purposes of an appointment of a person to conduct inspections, on the audit of accounts under the law of—

(aa) an equivalent third country, or part of an equivalent third country, or

(bb) a transitional third country, or part of a transitional third country;”;

(b) in paragraph (7)(b)(i) for “set by” substitute “ determined by ”;

(c) in paragraph (12), for “adopted” substitute “ determined ”.

Textual Amendments

F1 Words in reg. 70(a) substituted (31.12.2020 immediately before IP completion day) by The Companies and Statutory Auditors etc. (Consequential Amendments) (EU Exit) Regulations 2020 (S.I. 2020/523), regs. 1(2), 15(e)

Commencement Information

I1 Reg. 70 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 2