TITLE II

CONDITIONS FOR CARRYING OUT STATUTORY AUDIT OF PUBLIC INTEREST ENTITIES

Transparency report
Article 13
1
A statutory auditor ... that carries out the 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 ... and shall remain available on that website for at least five years from the day of its publication on the website. ...
A statutory auditor ... shall be allowed to update its published annual transparency report. In such a case, the statutory auditor ... 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 ... shall communicate to the competent authorities that the transparency report has been published on the website of the statutory auditor ... 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 statutory auditor, if it is a firm;
b
where the statutory auditor ... is a member of a network:
1. a description of the network and the legal and structural arrangements in the network;
2. the 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;
3. for 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;
4. the 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 statutory auditor, if it is a firm;
d
a description of the internal quality control system of the statutory auditor ... and a statement by the ... 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 ... carried out statutory audits during the preceding financial year;
g
a statement concerning the statutory auditor's ... 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 ... concerning the continuing education of statutory auditors referred to in paragraph 11 of Schedule 10 to the Companies Act 2006;
i
information concerning the basis for the ... remuneration of members of the management body of the statutory auditor, where that statutory auditor is a firm;
j
a description of the statutory auditor's ... policy concerning the rotation of key audit partners and staff in accordance with Article 17(7);
k
where not disclosed in its accounts, information about the total turnover of the statutory auditor ..., divided into the following categories:
1. revenues from the statutory audit of accounts of public-interest entities and members of groups of undertakings whose parent undertaking is a public-interest entity;
2. revenues from the statutory audit of accounts of other entities;
3. revenues from permitted non-audit services to entities that are audited by the statutory auditor ...; and
4. revenues from non-audit services to other entities.
The statutory auditor ... 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 ... 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 ....
Words 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)
Words 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)
Words 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)
Words 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)
Words 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)
Words 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)
Words 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)
Words 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)
Words 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)
Words in Art. 13(2) 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(c); 2020 c. 1, Sch. 5 para. 1(1)
Words 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)
Art. 13(2)(b)(ii) 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)(iii); 2020 c. 1, Sch. 5 para. 1(1)
Art. 13(2)(b)(iii) 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)(iv); 2020 c. 1, Sch. 5 para. 1(1)
Art. 13(2)(b)(iv) 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)(v); 2020 c. 1, Sch. 5 para. 1(1)
Words in Art. 13(2)(c) 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)(vi); 2020 c. 1, Sch. 5 para. 1(1)
Words in Art. 13(2)(d) 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)(vii)(aa); 2020 c. 1, Sch. 5 para. 1(1)
Words in Art. 13(2)(d) 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)(vii)(bb); 2020 c. 1, Sch. 5 para. 1(1)
Words in Art. 13(2)(f) 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)(viii); 2020 c. 1, Sch. 5 para. 1(1)
Words in Art. 13(2)(g) 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)(ix); 2020 c. 1, Sch. 5 para. 1(1)
Words in Art. 13(2)(h) 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)(x)(aa); 2020 c. 1, Sch. 5 para. 1(1)
Words in Art. 13(2)(h) 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)(x)(bb); 2020 c. 1, Sch. 5 para. 1(1)
Word in Art. 13(2)(i) 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)(xi)(aa); 2020 c. 1, Sch. 5 para. 1(1)
Words in Art. 13(2)(i) 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)(xi)(bb); 2020 c. 1, Sch. 5 para. 1(1)
Words in Art. 13(2)(j) 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)(xii); 2020 c. 1, Sch. 5 para. 1(1)
Word in Art. 13(2)(k) 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)(xiii)(aa); 2020 c. 1, Sch. 5 para. 1(1)
Words in Art. 13(2)(k) 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)(xiii)(bb); 2020 c. 1, Sch. 5 para. 1(1)
Word in Art. 13(2)(k)(i) 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)(xiv)(aa); 2020 c. 1, Sch. 5 para. 1(1)
Words in Art. 13(2)(k)(i) 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)(xiv)(bb); 2020 c. 1, Sch. 5 para. 1(1)
Word in Art. 13(2)(k)(ii) 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)(xv); 2020 c. 1, Sch. 5 para. 1(1)
Words in Art. 13(2)(k)(iii) 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)(xvi); 2020 c. 1, Sch. 5 para. 1(1)
Words in Art. 13(3) 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(d); 2020 c. 1, Sch. 5 para. 1(1)