Paragraph 21

for paragraph (1)(a) substitute—

“(a)

carry out a review of the regulatory provision contained in these Regulations to which amendments have been made by—

(i)

Part 2 of the Limited Liability Partnerships, Partnerships and Groups (Accounts and Audit) Regulations 2016 (“the 2016 Regulations”), and

(ii)

Schedule 3 to the Statutory Auditors Regulations 2017,”;

after paragraph (1) insert—

“(1A)

Section 30(3) of the Small Business, Enterprise and Employment Act 2015^f1 requires that a review carried out under paragraph (1)(a)(ii) of this regulation must, so far as is reasonable, have regard to how—

(a)

Articles 28 and 38 of Directive 2006/43/EC of the European Parliament and of the Council on statutory audits of annual accounts and consolidated accounts, amending Council Directives 78/660/EEC and 83/349/EEC and repealing Council Directive 84/253/EEC^f2, and

(b)

Articles 16, 17 and 41 of Regulation (EU) No 537/2014 of the European Parliament and of the Council on specific requirements regarding statutory audit of public-interest entities and repealing Commission Decision 2005/909/EC,

are implemented in other member States.”;

in paragraph (2), for “The report” substitute “Section 30(4) of the Small Business, Enterprise and Employment Act 2015 requires that a report published under this regulation”;

in paragraph (5)—