Explanatory note

These Regulations are made in exercise of the powers conferred by section 8(1) of the European Union (Withdrawal) Act 2018 (c. 16) in order to address failures of retained EU law to operate effectively and other deficiencies (in particular under section 8(2)(d) and (e) of that Act) arising from the withdrawal of the UK from the European Union.

These Regulations make amendments to legislation in the field of local audit and, in particular, amend legislation relating to eligibility for appointment as local auditors and other requirements for the local audit of relevant authorities. Part 2 amends Schedule 10 of the Companies Act 2006 (c. 46) and Schedule 5 to the Local Audit and Accountability Act 2014 (c. 2). Part 3 amends the Local Audit (Professional Qualifications and Major Local Audit) Regulations 2014 (S.I. 2014/1627).

An impact assessment has not been produced for this instrument as no, or no significant, impact on the private or voluntary sector is foreseen.