Regulation (EU) No 537/2014 of the European Parliament and of the Council of 16 April 2014 on specific requirements regarding statutory audit of public-interest entities and repealing Commission Decision 2005/909/EC (Text with EEA relevance)

Changes over time for: Article 13

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Article 13U.K.Transparency report

1.A statutory auditor F1... that carries out [F2the statutory audit of a public interest entity] shall make public an annual transparency report at the latest four months after the end of each financial year. That transparency report shall be published on the website of the statutory auditor F3... and shall remain available on that website for at least five years from the day of its publication on the website. F4...

A statutory auditor F5... shall be allowed to update its published annual transparency report. In such a case, the statutory auditor F6... shall indicate that it is an updated version of the report and the original version of the report shall continue to remain available on the website.

Statutory auditors F7... shall communicate to the competent authorities that the transparency report has been published on the website of the statutory auditor F8... or, as appropriate, that it has been updated.

2.The annual transparency report shall include at least the following:

(a)a description of the legal structure and ownership of the [F9statutory auditor, if it is a firm];

(b)where the statutory auditor F10... is a member of a network:

(i)

a description of the network and the legal and structural arrangements in the network;

(ii)

[F11the name of each member of the network that is eligible for appointment as a statutory auditor, or is eligible for appointment as an auditor in an EEA State or in Gibraltar;]

(iii)

[F12for each of the members of the network identified under paragraph (ii), the countries in which they are eligible for appointment as auditors or in which they have a registered office, central administration or a principal place of business;]

(iv)

[F13the total turnover of the members of the network identified under paragraph (ii) resulting from statutory audit work or equivalent work in the EEA States or Gibraltar;]

(c)a description of the governance structure of the [F14statutory auditor, if it is a firm];

(d)a description of the internal quality control system of the statutory auditor F15... and a statement by the F16... management body on the effectiveness of its functioning;

(e)an indication of when the last quality assurance review referred to in Article 26 was carried out;

(f)a list of public-interest entities for which the statutory auditor F17... carried out statutory audits during the preceding financial year;

(g)a statement concerning the statutory auditor's F18... independence practices which also confirms that an internal review of independence compliance has been conducted;

(h)a statement on the policy followed by the statutory auditor F19... concerning the continuing education of statutory auditors referred to in [F20paragraph 11 of Schedule 10 to the Companies Act 2006];

(i)information concerning the basis for the F21... remuneration [F22of members of the management body of the statutory auditor, where that statutory auditor is a firm];

(j)a description of the statutory auditor's F23... policy concerning the rotation of key audit partners and staff in accordance with Article 17(7);

(k)where not disclosed in its [F24accounts], information about the total turnover of the statutory auditor F25..., divided into the following categories:

(i)

revenues from the statutory audit of [F26accounts] of public-interest entities and [F27members of groups] of undertakings whose parent undertaking is a public-interest entity;

(ii)

revenues from the statutory audit of [F28accounts] of other entities;

(iii)

revenues from permitted non-audit services to entities that are audited by the statutory auditor F29...; and

(iv)

revenues from non-audit services to other entities.

The statutory auditor F30... may, in exceptional circumstances, decide not to disclose the information required in point (f) of the first subparagraph to the extent necessary to mitigate an imminent and significant threat to the personal security of any person. The statutory auditor F30... shall be able to demonstrate to the competent authority the existence of such threat.

3.The transparency report shall be signed by the statutory auditor F31....

Textual Amendments

F1Words in Art. 13(1) omitted (31.12.2020) by virtue of The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/177), regs. 2, 87(a)(i)(aa); 2020 c. 1, Sch. 5 para. 1(1)

F2Words in Art. 13(1) substituted (31.12.2020) by The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/177), regs. 2, 87(a)(i)(bb); 2020 c. 1, Sch. 5 para. 1(1)

F3Words in Art. 13(1) omitted (31.12.2020) by virtue of The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/177), regs. 2, 87(a)(i)(cc); 2020 c. 1, Sch. 5 para. 1(1)

F4Words in Art. 13(1) omitted (31.12.2020) by virtue of The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/177), regs. 2, 87(a)(i)(dd); 2020 c. 1, Sch. 5 para. 1(1)

F5Words in Art. 13(1) omitted (31.12.2020) by virtue of The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/177), regs. 2, 87(a)(ii)(aa); 2020 c. 1, Sch. 5 para. 1(1)

F6Words in Art. 13(1) omitted (31.12.2020) by virtue of The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/177), regs. 2, 87(a)(ii)(bb); 2020 c. 1, Sch. 5 para. 1(1)

F7Words in Art. 13(1) omitted (31.12.2020) by virtue of The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/177), regs. 2, 87(a)(iii)(aa); 2020 c. 1, Sch. 5 para. 1(1)

F8Words in Art. 13(1) omitted (31.12.2020) by virtue of The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/177), regs. 2, 87(a)(iii)(bb); 2020 c. 1, Sch. 5 para. 1(1)

F9Words in Art. 13(2)(a) substituted (31.12.2020) by The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/177), regs. 2, 87(b)(i); 2020 c. 1, Sch. 5 para. 1(1)

F10Words in Art. 13(2)(b) omitted (31.12.2020) by virtue of The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/177), regs. 2, 87(b)(ii); 2020 c. 1, Sch. 5 para. 1(1)