Companies Act 2006

1210Meaning of “statutory auditor” etcU.K.

This section has no associated Explanatory Notes

(1)In this Part “statutory auditor” means—

(a)a person appointed as auditor under Part 16 of this Act,

(b)a person appointed as auditor under section 77 of or Schedule 11 to the Building Societies Act 1986 (c. 53),

[F1(c)a person appointed as auditor of a friendly society under section 72 of or Schedule 14 to the Friendly Societies Act 1992, where that society is—

(i)an insurer, or

(ii)an issuer whose transferable securities are admitted to trading on a [F2UK regulated market];]

(d)F3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[F4(e)a person appointed as auditor for the purposes of regulation 5 of the Insurance Accounts Directive (Lloyd's Syndicate and Aggregate Accounts) Regulations 2008 or appointed to report on the “aggregate accounts” within the meaning of those Regulations,]

[F5(f)a person appointed as auditor of an insurance undertaking for the purposes of the Insurance Accounts Directive (Miscellaneous Insurance Undertakings) Regulations 2008,]

F6(g). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(h)a person appointed as auditor of a prescribed person under a prescribed enactment authorising or requiring the appointment;

and the expressions “statutory audit” and “statutory audit work” are to be construed accordingly.

(2)In this Part “audited person” means the person in respect of whom a statutory audit is conducted.

(3)In subsection (1)—

  • F7...

  • “friendly society” means a friendly society within the meaning of the Friendly Societies Act 1992 (c. 40);

  • F8. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

  • [F9“insurer” means a person who would be an insurance undertaking, as defined in Article 2(1) of Council Directive 91/674/EEC of 19 December 1991 of the European Parliament and of the Council on the annual accounts and consolidated accounts of insurance undertakings as that Article had effect immediately before IP completion day, were the United Kingdom a member State;]

  • [F10“issuer” has the same meaning as in Part 6 of the Financial Services and Markets Act 2000 (see section 102A(6));]

  • “prescribed” means prescribed, or of a description prescribed, by order made by the Secretary of State for the purposes of subsection (1)(h).

  • F11...

(4)An order under this section is subject to negative resolution procedure.

Textual Amendments

F1S. 1210(1)(c) substituted (with effect in accordance with reg. 1(5) of the amending S.I.) by The Statutory Auditors and Third Country Auditors Regulations 2017 (S.I. 2017/516), regs. 1(2), 13(2)(a)

F6S. 1210(1)(g) repealed (with effect in accordance with reg. 19(2) of the amending S.I.) by The Statutory Auditors Regulations 2017 (S.I. 2017/1164), reg. 1(2)(3), Sch. 4 (with reg. 2(6)(7))

F8S. 1210(3): defininition of "industrial and provident society" omitted (6.4.2008) by virtue of The Insurance Accounts Directive (Miscellaneous Insurance Undertakings) Regulations 2008 (S.I. 2008/565), reg. 15(1)(b)(ii)

F10Words in s. 1210(3) inserted (with effect in accordance with reg. 1(5) of the amending S.I.) by The Statutory Auditors and Third Country Auditors Regulations 2017 (S.I. 2017/516), regs. 1(2), 13(2)(b)

Modifications etc. (not altering text)

C1S. 1210(1)(a) modified (8.12.2017) by The Risk Transformation Regulations 2017 (S.I. 2017/1212), regs. 1(2), 165 (with reg. 189)

Commencement Information

I1S. 1210 wholly in force at 6.4.2008; s. 1210 not in force at Royal Assent, see s. 1300; s. 1210 in force for specified purposes at 20.1.2007 by S.I. 2006/3428, art. 3(3) (subject to art. 5, Sch. 1 and with arts. 6, 8, Sch. 5); s. 1210 in force at 6.4.2008 by S.I. 2007/3495, art. 3(1)(u) (with savings in arts. 7, 12, Sch. 4 paras. 37-42)