C4C1C2C3C5Part 42Statutory Auditors

Annotations:
Modifications etc. (not altering text)
C2

Pt. 42: functions transferred in part (6.4.2008 in accordance with art. 1 of the amending S.I.) by The Statutory Auditors (Delegation of Functions etc) Order 2008 (S.I. 2008/496), art. 4 (which amending S.I. was revoked (2.7.2012) by S.I. 2012/1741, art. 6)

Chapter 6Supplementary and general

F1Transfer of papers to third countries

Annotations:
Amendments (Textual)
F1

Ss. 1253D-1253F and cross-heading inserted (6.4.2008) by The Statutory Auditors and Third Country Auditors Regulations 2007 (S.I. 2007/3494), reg. 15(1) (with reg. 15(2) (as amended by S.I. 2008/499), reg. 2(4)))

1253DDF2 Agreement of F3third country competent authority

1

This section applies where—

a

an approved third country competent authority makes a request to the Secretary of State for the transfer of F4audit working papers and investigation reports which relate to the audit of the consolidated accounts of a group, and

b

the F4audit working papers and investigation reports that are the subject of the request—

i

have been created by the auditor of a subsidiary that is located in F7an equivalent third country or transitional third country in relation to the audit of that subsidiary, and

ii

are in the possession of a statutory auditor.

2

In the case of a transfer by the Secretary of State under section 1253DA, the transfer must not take place unless the F5third country competent authority responsible for the auditor of the subsidiary has given its express agreement to the transfer.

3

In the case of a transfer by a statutory auditor under section 1253DB, the Secretary of State must not approve the transfer unless the F6third country competent authority responsible for the auditor of the subsidiary has given its express agreement to the transfer.