# The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019, Regulation 79

Extent: E+W+S+N.I.

In Article 4 (audit fees)—
(a) in paragraph 1, in the second subparagraph—
(i) omit “Without prejudice to Article 25 of Directive 2006/43/EC, ”;
(ii) for “the first subparagraph, contingent” substitute “ paragraph 13 of Schedule 1 to the Statutory Auditor and Third Country Auditors Regulations 2016, ”;
(iii) after the first instance of “fees” insert “ “based on any form of contingency” ”;
(iv) for “being contingent” substitute “ being based on any form of contingency ”;
(v) for “a competent authority” substitute “ the competent authority ”;
(b) in paragraph 2, in the first subparagraph—
(i) omit “or the audit firm”;
(ii) for “audited entity” in both places substitute “ audited person ”;
(iii) for “controlled undertakings” in both places substitute “ subsidiary undertakings ”;
(iv) for “financial statements” substitute “ accounts ”;
(c) in paragraph 2, in the second subparagraph, for “Union or national legislation” substitute “ legislation of any part of the United Kingdom ”;
(d) in paragraph 3, in the first subparagraph—
(i) omit “or the audit firm or, where applicable, by the group auditor carrying out the statutory audit,”;
(ii) omit “or audit firm or, as the case may be, group auditor,”;
(iii) for “their independence” substitute “ its independence ”;
(iv) omit “engagement”;
(v) for “statutory auditor or audit firm” substitute “ person who is eligible for appointment as a statutory auditor ”;
(e) in paragraph 3, in the second subparagraph—
(i) omit “or audit firm or, as the case may be, by a group auditor carrying out the statutory audit”;
(ii) for “or the audit firm or the group auditor, of such an entity or group of entities” substitute “ of the public interest entity ”;
(f) omit paragraph 4.

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Source: https://www.legislation.gov.uk/uksi/2019/177/regulation/79 (the official version)
Page: https://openlegislation.uk/statutory-auditors-and-third-country-auditors-amendment-eu-exit-regulations-2019/regulation-79
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.