The Statutory Auditors Regulations 2017

Amendments to the Companies (Revision of Defective Accounts and Reports) Regulations 2008

10.  In regulation 9 (auditor’s report on revised report alone)—

(a) for subsection (1) substitute—

“(1) Subject to paragraph (2), where a company has revised its strategic report, directors’ report or directors’ remuneration report under section 454 of the 2006 Act but has not revised its annual accounts, a company’s current auditor shall make a report or (as the case may be) further report to the company’s members on any revised report prepared under section 454 of that Act if the relevant annual accounts have not been revised at the same time, and—

(a) subject to the modifications in paragraph (1A), the requirements of section s496 and 497 of the 2006 Act apply, as appropriate, to the report on the revised report as they applied to the, or would have applied to a, report on the original strategic report, directors’ report or directors’ remuneration report,

(b) section 498 of that Act (duties of auditor)(1) applies with any necessary modifications, and

(c) section 495(1) does not apply with respect to the revised reports.

(1A) The modifications are that—

(a) for the references to the report on the company’s annual accounts in sections 496(1) and 497(1) there were substituted a reference to the report under this regulation,

(b) the—

(i) applicable legal requirements in accordance with which the revised strategic report and revised directors’ report must have been prepared, referred to in section 496(1)(a)(ii), and

(ii) requirements of the 2006 Act in accordance with which the revised directors’ remuneration report must have been properly prepared, referred to in section 497(1)(b),

are construed in accordance with regulation 3.”;

(b) omit paragraphs (3) and (4).

(1)

Section 498 was amended by S.I. 2008/393, 2013/1970 and 2016/649.