# The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2020, Regulation 7: Power of Secretary of State to take into account a report from the competent authority

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

(1) Before granting approval, provisional approval or transitional approval to a third country by relevant regulations, the Secretary of State may take into account a report prepared by the competent authority that assesses the extent to which the third country's audit regulatory regime is comparable to that of the United Kingdom.
(2) The report of the competent authority may take account of any assessments of the third country's audit regulatory regime carried out by or on behalf of an equivalent third country or a transitional third country.

---
Source: https://www.legislation.gov.uk/uksi/2020/108/regulation/7 (the official version)
Page: https://openlegislation.uk/statutory-auditors-and-third-country-auditors-amendment-eu-exit-regulations-2020/regulation-7
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.