Regulation 85 Amendment of Regulation 537/2014

In Article 10 (audit report)—

(a)

in paragraph 1, for “auditor(s) or the audit firm(s)” substitute “auditor”;

(b)

in paragraph 2, in the first subparagraph—

(i)

for “provisions of Article 28 of Directive 2006/43/EC” substitute “the public interest entity audit reporting requirements”;

(ii)

in point (a)—

(aa)

for “auditor(s) or the audit firm(s)” substitute “auditor”;

(bb)

omit “(were)”;

(iii)

in point (b), for “engagement including previous renewals and reappointments of the statutory auditors or the audit firms” substitute “consecutive reappointments of the statutory auditor”;

(iv)

in point (c), in the second subparagraph, for “financial statements” substitute “accounts”;

(v)

in point (f)—

(aa)

for “auditor(s) or the audit firm(s)” substitute “auditor”;

(bb)

for “audited entity” substitute “audited person”;

(vi)

in point (g)—

(aa)

omit “or the audit firm”;

(bb)

for “audited entity” substitute “audited person”;

(cc)

for “controlled undertaking(s)” substitute “subsidiary undertakings”;

(dd)

for “management reports or financial statements” substitute “accounts or the reports required to be prepared by the management body of the audited person to accompany the accounts”;

(c)

in paragraph 2, omit the second subparagraph;

(d)

in paragraph 4—

(i)

omit “or the audit firm”;

(ii)

for “any competent authority” substitute “the competent authority”;

(iii)

for “that authority” substitute “the authority”.