Regulation 85 I1

United Kingdom

In Article 10 (audit report)—

(a)

in paragraph 1, for “auditor(s) or the audit firm(s)” substitute “ auditor ”;

(b)

in paragraph 2, in the first subparagraph—

(i)

for “provisions of Article 28 of Directive 2006/43/EC” substitute “ the public interest entity audit reporting requirements ”;

(ii)

in point (a)—

(aa)

for “auditor(s) or the audit firm(s)” substitute “ auditor ”;

(bb)

omit “(were)”;

(iii)

in point (b), for “engagement including previous renewals and reappointments of the statutory auditors or the audit firms” substitute “ consecutive reappointments of the statutory auditor ”;

(iv)

in point (c), in the second subparagraph, for “financial statements” substitute “ accounts ”;

(v)

in point (f)—

(aa)

for “auditor(s) or the audit firm(s)” substitute “ auditor ”;

(bb)

for “audited entity” substitute “ audited person ”;

(vi)

in point (g)—

(aa)

omit “or the audit firm”;

(bb)

for “audited entity” substitute “ audited person ”;

(cc)

for “controlled undertaking(s)” substitute “ subsidiary undertakings ”;

(dd)

for “management reports or financial statements” substitute “ accounts or the reports required to be prepared by the management body of the audited person to accompany the accounts ”;

(c)

in paragraph 2, omit the second subparagraph;

(d)

in paragraph 4—

(i)

omit “or the audit firm”;

(ii)

for “any competent authority” substitute “ the competent authority ”;

(iii)

for “that authority” substitute “ the authority ”.

Annotations

Commencement

I1: Reg. 85 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 2