Regulation 91 I1

United Kingdom

In Article 17 (duration of the audit engagement)—

(a)

omit paragraph 2;

(b)

omit paragraph 4;

(c)

in paragraph 7—

(i)

in the first subparagraph, for “audited entity” in both places substitute “ audited person ”;

(ii)

omit the second subparagraph;

(iii)

in the third subparagraph—

(aa)

omit “or the audit firm” in both places;

(bb)

for “persons who are registered” substitute “ individuals who are eligible for appointment ”;

(iv)

in the fourth subparagraph, omit “or the audit firm” in both places;

(d)

in paragraph 8—

(i)

in the first subparagraph—

(aa)

for “this Article” substitute “ the provisions for the appointment of statutory auditors by public interest entities ”;

(bb)

omit “or the audit firm”;

(ii)

in the second subparagraph—

(aa)

for “the audit firm shall” substitute “ where the statutory auditor is a firm it must ”;

(bb)

for “other firms that the audit firm has acquired or that have merged with it.” substitute “ any other statutory auditor that is also a firm and has been acquired by or has merged with the first statutory auditor ”;

(iii)

in the third subparagraph, omit “or the audit firm” in both places.

Annotations

Commencement

I1: Reg. 91 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 2