Paragraph 11 I1

(1)

Section 525 (meaning of “appropriate audit authority” and “major audit”) is amended as follows.

(2)

In subsection (1)—

(a)

in paragraph (a)—

(i)

for the words before sub-paragraph (i) substitute “ in relation to an auditor of a public interest company (other than an Auditor General) ”;

(ii)

in sub-paragraph (ii), after “receiving the” insert “ statement or ”;

(b)

in paragraph (b), for the words from the beginning to “a major audit” substitute “ in relation to an auditor of a non-public interest company (other than an Auditor General) ”;

(c)

in paragraph (c), for “in the case of an audit conducted by” substitute “ in relation to ”.

(3)

Omit subsections (2) and (3).

(4)

In the heading, omit “and “major audit””.

Annotations

Commencement

I1: Sch. 5 para. 11 in force at 1.10.2015 by S.I. 2015/1732, art. 2(d) (with arts. 4, 6)