Regulation 91 Amendment of Regulation 537/2014

In Article 17 (duration of the audit engagement)—

(a)

omit paragraph 2;

(b)

omit paragraph 4;

(c)

in paragraph 7—

(i)

in the first subparagraph, for “audited entity” in both places substitute “audited person”;

(ii)

omit the second subparagraph;

(iii)

in the third subparagraph—

(aa)

omit “or the audit firm” in both places;

(bb)

for “persons who are registered” substitute “individuals who are eligible for appointment”;

(iv)

in the fourth subparagraph, omit “or the audit firm” in both places;

(d)

in paragraph 8—

(i)

in the first subparagraph—

(aa)

for “this Article” substitute “the provisions for the appointment of statutory auditors by public interest entities”;

(bb)

omit “or the audit firm”;

(ii)

in the second subparagraph—

(aa)

for “the audit firm shall” substitute “where the statutory auditor is a firm it must”;

(bb)

for “other firms that the audit firm has acquired or that have merged with it.” substitute “any other statutory auditor that is also a firm and has been acquired by or has merged with the first statutory auditor”;

(iii)

in the third subparagraph, omit “or the audit firm” in both places.