Paragraph 51

at the appropriate places, insert the following definitions—

• ““audit working papers and investigation reports” means—

  1. (a)

     any documents which are or have been held by a statutory auditor, an EEA auditor or a third country auditor and which are related to the conduct of an audit conducted by that auditor;

  2. (b)

     any report of an inspection of the conduct of an audit by a statutory auditor, an EEA auditor or a third country auditor, or

  3. (c)

     any report of an investigation into the conduct of a statutory auditor, an EEA auditor or a third country auditor,”;

““the Audit Regulation” means Regulation 537/2014 of the European Parliament and of the Council on specific requirements regarding statutory audit of public interest entities;”;

““the competent authority” means the Financial Reporting Council Limited”;

in the definition of “the Audit Directive” omit the words “ as amended at any time before 1st January 2009”;

omit the definition of “audit working papers”;

in the definition of “third country auditor” after “other than” insert “ an EEA auditor or ”;

in the definition of “transfer” after “audit working papers” insert “ and investigation reports ”.