Article 6 Preparation for the statutory audit and assessment of threats to independence
United Kingdom
Before F1appointment as a statutory auditor for the statutory audit of a public- interest entity, F2a person who is eligible for appointment as a statutory auditor must assess and document, in addition to F3what is required by paragraph 8 of Schedule 1 to the Statutory Auditors and Third Country Auditors Regulations 2016, the following:
whether F4the person who is eligible for appointment as a statutory auditor complies with the requirements of Articles 4 and 5 of this Regulation;
whether the conditions of F5the provisions for the appointment of statutory auditors by public interest entities and Article 17(7) are complied with;
In point (c) of paragraph 1, “relevant legislation” means—
the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017;
sections 330(6), 330(7A), 333A and 342 of the Proceeds of Crime Act 2002;
sections 45 and 46 of the Criminal Finances Act 2017;
the Terrorism Act 2000.
The reference to appointment as a statutory auditor for the statutory audit of a public interest entity in paragraph 1 means any appointment of the auditor by public interest entities and includes any deemed reappointment of the statutory auditor under section 487 of the Companies Act 2006.
A statutory auditor F9... shall:
In this Article, “associated persons” means—
partners if the firm is a partnership, general partners if the firm is a limited partnership, or members if the firm is a limited liability partnership;
members of the management body of the firm; or
individuals who are responsible for statutory audit work on behalf of the firm.
Annotations
Textual amendments
- F1
Words in Art. 6(1) substituted (31.12.2020) by The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/177), regs. 2, 81(a)(i); 2020 c. 1, Sch. 5 para. 1(1)
- F2
Words in Art. 6(1) substituted (31.12.2020) by The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/177), regs. 2, 81(a)(ii); 2020 c. 1, Sch. 5 para. 1(1)
- F3
Words in Art. 6(1) substituted (31.12.2020) by The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/177), regs. 2, 81(a)(iii); 2020 c. 1, Sch. 5 para. 1(1)
- F4
Words in Art. 6(1)(a) substituted (31.12.2020) by The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/177), regs. 2, 81(a)(iv); 2020 c. 1, Sch. 5 para. 1(1)
- F5
Words in Art. 6(1)(b) substituted (31.12.2020) by The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/177), regs. 2, 81(a)(v); 2020 c. 1, Sch. 5 para. 1(1)
- F6
Words in Art. 6(1)(c) substituted (31.12.2020) by The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/177), regs. 2, 81(a)(vi)(aa); 2020 c. 1, Sch. 5 para. 1(1)
- F7
Words in Art. 6(1)(c) substituted (31.12.2020) by The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/177), regs. 2, 81(a)(vi)(bb); 2020 c. 1, Sch. 5 para. 1(1)
- F8
Art. 6(1A)(1B) inserted (31.12.2020) by The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/177), regs. 2, 81(b); 2020 c. 1, Sch. 5 para. 1(1)
- F9
Words in Art. 6(2) omitted (31.12.2020) by virtue of The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/177), regs. 2, 81(c)(i); 2020 c. 1, Sch. 5 para. 1(1)
- F10
Words in Art. 6(2)(a) omitted (31.12.2020) by virtue of The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/177), regs. 2, 81(c)(ii)(aa); 2020 c. 1, Sch. 5 para. 1(1)
- F11
Words in Art. 6(2)(a) substituted (31.12.2020) by The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/177), regs. 2, 81(c)(ii)(bb); 2020 c. 1, Sch. 5 para. 1(1)
- F12
Words in Art. 6(2)(a) substituted (31.12.2020) by The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/177), regs. 2, 81(c)(ii)(cc); 2020 c. 1, Sch. 5 para. 1(1)
- F13
Words in Art. 6(2)(b) substituted (31.12.2020) by The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/177), regs. 2, 81(c)(iii)(aa); 2020 c. 1, Sch. 5 para. 1(1)
- F14
Words in Art. 6(2)(b) substituted (31.12.2020) by The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/177), regs. 2, 81(c)(iii)(bb); 2020 c. 1, Sch. 5 para. 1(1)
- F15
Art. 6(3) inserted (31.12.2020) by The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/177), regs. 2, 81(d); 2020 c. 1, Sch. 5 para. 1(1)