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Explanatory note

Original text. Later amendments are not shown.

(This note is not part of the Order)

This Order appoints the Professional Oversight Board as Independent Supervisor of the Auditors General when they carry out the functions of statutory auditors. The supervision function of the Independent Supervisor is set out in Part 42 of the Companies Act 2006.

Articles 4 to 7 create additional provisions and requirements for the exercise of that function, including requirements for the contents of reports by the Independent Supervisor on the exercise of its functions; and requirements for consultation and record-keeping.

By section 1228(3) of the Companies Act, the making of this Order has the effect of making the Independent Supervisor a designated body under section 5 of the Freedom of Information Act 2000 (power to designate additional public authorities).