- Latest available (Revised)
- Original (As made)
This is the original version (as it was originally made).
13.Power to grant exemptions from the requirements of Article 4(2) of the Audit Regulation (limit on total fees charged for non-audit services)
14.Amendment to the Partnerships (Accounts) Regulations 2008
18.Amendment of the Companies (Disclosure of Auditor Remuneration and Liability Limitation Agreements) Regulations 2008
19.Amendments to the Statutory Auditors (Amendment of Companies Act 2006 and Delegation of Functions etc) Order 2012
20.Amendment of the Statutory Auditors and Third Country Auditors Regulations 2013
21.Exclusion of large debt securities issuer from definition of “UK-traded non-EEA company”
22.Amendment of the Companies Act (Transfer of Audit Working Papers to Third Countries) Regulations 2010
23.Amendment to the Companies (Bodies Concerned with Auditing Standards etc.) (Exemption from Liability) Regulations 2016
3.(1) Standards must ensure that A takes all reasonable steps...
4.(1) Standards must ensure that A does not accept appointment...
5.(1) Standards must ensure that— (a) none of the persons...
6.Standards must ensure that if, during the period covered by...
8.(1) Standards must ensure that, before accepting an appointment as...
9.(1) Standards must ensure adequate provision on confidentiality in relation...
10.(1) Standards must ensure that A— (a) has appropriate policies...
12.(1) Standards must ensure that A— (a) keeps records of...
13.Standards must ensure that remuneration received or receivable by a...
14.Standards must ensure that the scope of statutory audit work...
16.(1) In relation to the audit of public interest entities,...
Amendments to the Companies Act 2006
PART 3 Amendments to Chapters 2 to 4 of Part 16 of the Companies Act 2006
4.After section 485 (appointment of auditors of private company: general)...
5.(1) Section 486 (appointment of auditors or private company: default...
7.After section 487 insert— Maximum engagement period: transitional arrangements (1) In the case of an auditor who was first...
8.After section 489 (appointment of auditors of public company: general)...
9.(1) Section 490 (appointment of auditors of public company: default...
11.After section 491 insert— Maximum engagement period: transitional arrangements (1) In the case of an auditor who was first...
12.After section 494 (disclosure of services provided by auditor or...
13.(1) Section 495 (auditor’s report on company’s annual accounts)is amended...
14.(1) Section 496 (auditor’s report on strategic report and director’s...
15.(1) Section 497A (auditor’s report on separate corporate governance statement)...
16.(1) Section 498 (duties of auditor)is amended as follows.
17.(1) Section 503 (signature of auditor’s report) is amended as...
18.(1) Section 505 (names to be stated in published copies...
19.(1) Section 508 (guidance for regulatory and prosecuting authorities: England,...
20.(1) Section 509 (guidance for regulatory authorities: Scotland) is amended...
21.(1) Section 510 (resolution removing auditors from office) is amended...
22.(1) After section 511 (special notice required for resolution removing...
23.(1) Section 513 (rights of auditor who has been removed...
24.(1) Section 514 (failure to re-appoint auditor: special procedure required...
25.(1) Section 515 (failure to re-appoint auditor: special notice required...
26.(1) Section 519A (meaning of “public interest company”, “non-public interest...
PART 5 Amendments to Part 42 of the Companies Act 2006
29.(1) Section 1217 (supervisory bodies) is amended as follows.
30.(1) Section 1218 (exemption from liability for damages) is amended...
31.After section 1223 (matters to be notified to the Secretary...
32.(1) Section 1223A (notification of matters relevant to other EEA...
33.After section 1224 (Secretary of State’s power to call for...
34.(1) Section 1224A (restrictions on disclosure) is amended as follows....
35.(1) Section 1225 (enforcement: general) is amended as follows.
36.(1) Section 1229 (supervision of Auditors General by the Independent...
37.(1) Section 1239 (register of auditors) is amended as follows....
38.(1) Section 1251A (duty of Secretary of State to report...
39.(1) Section 1252 (delegation of Secretary of State’s functions) is...
40.(1) Section 1253 (delegation of functions to an existing body)...
41.(1) Section 1253B (requests from EEA competent authorities) is amended...
42.(1) Section 1253C (notification to competent authorities of other EEA...
43.(1) Section 1253D (restriction on transfer of audit working papers...
44.(1) Section 1253DA (transfer by Secretary of State) is amended...
45.(1) Section 1253DB (transfer by statutory auditor with approval of...
46.In section 1253DC (transfer by statutory auditor for purposes of...
47.(1) Section 1253DD (agreement of EEA competent authority) is amended...
48.(1) Section 1253DE (transfer by means of inspection) is amended...
49.(1) Section 1253E (working arrangements for transfer of papers) is...
50.(1) Section 1254 (directions to comply with international obligations) is...
51.(1) Section 1261 (minor definitions) is amended as follows.
52.(1) Section 1262 (index of defined expressions) is amended as...
53.Schedule 10 (recognised supervisory bodies) is amended as follows.
56.In Part 2, before paragraph 6, insert— Delegation etc. of...
63.For paragraph 11 substitute— The body must have rules and practices designed to ensure...
65.For paragraphs 13 and 14 substitute— Monitoring of audits (1) The body must— (a) have adequate arrangements for enabling...
67.For paragraph 16 substitute— Independent investigation for enforcement purposes (1) The body must have rules and practices designed to...
70.After paragraph 20 insert— Supplementary: funding of arrangements (1) This paragraph applies where, under regulation 3 of the...
71.For paragraph 20A substitute— Interpretation In this Part of this Schedule— “audit reporting requirements” has...
73.(1) Schedule 11A (specified persons, descriptions, disclosures etc for the...
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Statutory Instrument accessible to readers who are not legally qualified and accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
Impact Assessments generally accompany all UK Government interventions of a regulatory nature that affect the private sector, civil society organisations and public services. They apply regardless of whether the regulation originates from a domestic or international source and can accompany primary (Acts etc) and secondary legislation (SIs). An Impact Assessment allows those with an interest in the policy area to understand:
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: