| Guvnor

Enforced by: FRC
Status: Amended (in force with amendments)

What it defines

Regulations creating concrete business duties or carrying penalties, grouped as the instrument is structured. Titles link to the source text — blue means you’re leaving for legislation.gov.uk.

Part 1

Introduction

0 of 2 sections shown

2 other sections in this Part — procedural and definitional

s.001 Citation and commencement

s.002 These Regulations come into force on exit day , except...

Part 2

Amendment of primary legislation

0 of 44 sections shown

44 other sections in this Part — procedural and definitional

s.003 Amendment of Part 16 of the Companies Act 2006

s.004 In section 479A (subsidiary companies: conditions for exemption from audit)...

s.004 In section 479C(2) (subsidiary companies audit exemption: parent undertaking declaration...

s.005 In section 494ZA (the maximum engagement period) —

s.006 In section 494A (interpretation) — (a) for the definition of...

s.007 In section 504(1) (senior statutory auditor)— (a) omit paragraph (a)...

s.008 In section 519A (meaning of “public interest company”, “non-public interest...

s.009 In section 539 (minor definitions), in the definition of “MiFID...

s.010 Amendment of Part 42 of the Companies Act 2006

s.011 In section 1210 (meaning of “statutory auditor” etc)—

s.012 In section 1223A (notification of matters relevant to other EEA...

s.013 In section 1224A (restrictions on disclosure) , omit subsection (5)....

s.014 After section 1240 (information to be made available to public),...

s.015 In section 1241 (meaning of “registered third country auditor” and...

s.016 In section 1242 (duties of registered third country auditors)—

s.017 In section 1253A (requests to foreign competent authorities) , omit...

s.018 In section 1253B (request from EEA competent authorities) —

s.019 In section 1253C (notification to competent authorities of other EEA...

s.020 In section 1253D (restriction on transfer of audit working papers...

s.021 In section 1253DD (agreement of EEA competent authority) —

s.022 In section 1253DE(1)(a) (transfer by means of inspection) , omit...

s.023 In section 1253E (working arrangements for transfer of papers) —...

s.024 In section 1254(1)(a) (directions to comply with international obligations) ,...

s.025 In section 1261 (minor definitions)— (a) in subsection (1)—

s.026 In section 1262 (index of defined expressions), in the Table—...

s.027 Amendment of Schedule 10 to the Companies Act 2006

s.028 In paragraph 6 (holding of appropriate qualification)—

s.029 In paragraph 7 (holding of appropriate qualification)—

s.030 In paragraph 13(5) (monitoring of audits) —

s.031 In paragraph 16AA(b) (transfer to approved third country competent authority)...

s.032 In paragraph 20A (interpretation) — (a) at the beginning, insert...

s.033 Amendment of Schedules 11, 11A and 12 to the Companies Act 2006

s.034 In Schedule 11 (recognised professional qualifications), in paragraph 9 (practical...

s.035 In Schedule 11A (specified persons, descriptions, disclosures etc for the...

s.036 In Schedule 12 (arrangements in which registered third country auditors...

s.037 Amendment of the Building Societies Act 1986

s.038 In paragraph 3E(5)(b) (appointment) of Schedule 11 (auditors: appointment, tenure),...

s.039 Amendment of the Friendly Societies Act 1992

s.040 In paragraph 5(5)(b) (the maximum engagement period) of Schedule 14A...

s.041 Amendment of the Companies (Audit, Investigations and Community Enterprise) Act 2004

s.042 In section 15D(4) (permitted disclosure of information obtained under compulsory...

s.043 In section 16 (grants to bodies concerned with accounting standards...

s.044 Amendment of the Local Audit and Accountability Act 2014

s.045 In Schedule 5 (eligibility and regulation of local auditors), in...

Part 3

Amendment of subordinate legislation

0 of 29 sections shown

29 other sections in this Part — procedural and definitional

s.046 Amendment of the Insurance Accounts Directive (Miscellaneous Insurance Undertakings) Regulations 2008

s.047 In Part 1 (introduction), in regulation 2(4)(a) (interpretation) —

s.048 In Part 3 (final provisions), in regulation 17 (review), omit...

s.049 Amendment of Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008

s.050 In Part 10 (audit requirement)— (a) in regulation 34 (exemption...

s.051 In Part 11 (appointment of auditors)— (a) in regulation 38A...

s.052 In Part 12 (functions of auditors), in regulation 41 (signature...

s.053 In Part 13 (removal, resignation, etc of auditors), in regulation...

s.054 In Part 14 (LLP audit: supplementary provisions), in regulation 47...

s.055 In Part 18 (final provisions), in regulation 59 (review), omit...

s.056 Amendment of the Statutory Auditors (Amendment of Companies Act 2006 and Delegation of Functions etc) Order 2012

s.057 In article 7 (transfer of functions)— (a) in paragraph (2)—...

s.058 Amendment of the Statutory Auditors and Third Country Auditors Regulations 2013

s.059 In regulation 6 (register of third country auditors)—

s.060 In regulation 7 (application for registration of third country auditor),...

s.061 In regulation 8 (application statement)— (a) in paragraph (b)(ii), for...

s.062 In regulation 12(3)(a)(ii) (removal of registered third country auditor from...

s.063 Amendment of the Companies (Bodies Concerned with Auditing Standards etc.) (Exemption from Liability) Regulations 2016

s.064 In regulation 2(2) (exemption from liability) , after “subsection 2(a)...

s.065 Amendment of the Statutory Auditors and Third Country Auditors Regulations 2016

s.066 In regulation 2 (interpretation)— (a) in the second definition paragraph...

s.067 In regulation 3 (the competent authority)— (a) in paragraph (1)(c),...

s.068 In regulation 4 (general requirements of auditors)—

s.069 In regulation 5(11)(j) (the competent authority: sanctioning powers) , for...

s.070 In regulation 9 (monitoring of audits by the competent authority)—...

s.071 In regulation 11 (performance, monitoring and enforcement of third country...

s.072 In regulation 21 (exclusion of large debt securities issuer from...

s.073 In regulation 24 (review), omit paragraph (3).

s.074 In Schedule 1 (requirements for professional ethics, independence, objectivity, confidentiality,...

Part 4

Amendment of retained direct EU legislation

0 of 30 sections shown

30 other sections in this Part — procedural and definitional

s.075 Amendment of Regulation 537/2014

s.076 In Article 1 (subject matter)— (a) for “annual and consolidated...

s.077 In Article 2 (scope)— (a) in paragraph 1, in point...

s.078 For Article 3 (definitions), substitute— For the purposes of this Regulation, the definitions laid down...

s.079 In Article 4 (audit fees)— (a) in paragraph 1, in...

s.080 In Article 5 (prohibition of the provision of non-audit services)—...

s.081 In Article 6 (preparation for the statutory audit and assessment...

s.082 In Article 7 (irregularities)— (a) in the first subparagraph—

s.083 In Article 8 (engagement quality control review)—

s.084 Omit Article 9.

s.085 In Article 10 (audit report)— (a) in paragraph 1, for...

s.086 In Article 11 (additional report to the audit committee)—

s.087 In Article 13 (transparency report)— (a) in paragraph 1—

s.088 In Article 14 (information for competent authorities)—

s.089 In the heading for Title III (the appointment of statutory...

s.090 In Article 16 (appointment of statutory auditors or audit firms)—...

s.091 In Article 17 (duration of the audit engagement)—

s.092 In Article 18 (hand-over file)— (a) in the second subparagraph—...

s.093 Omit Article 19 (dismissal and resignation of the statutory auditors...

s.094 In the heading of Title IV (surveillance of the activities...

s.095 Omit Article 20 (designation of competent authorities).

s.096 In Article 21 (conditions of independence)— (a) in the first...

s.097 In Article 23 (powers of competent authorities), for paragraph 1...

s.098 In Article 24 (delegation of tasks)— (a) for paragraph 1,...

s.099 In Article 25 (cooperation with other competent authorities at national...

s.100 In Article 26 (quality assurance)— (a) in paragraph 1—

s.101 In Article 27 (monitoring market quality and competition)—

s.102 In Article 28 (transparency of competent authorities)—

s.103 Omit Chapter III (cooperation between competent authorities and relations with...

s.104 Omit Chapter IV (cooperation with third country authorities and with...

Part 5

Amendments made under section 2(2) of the European Communities Act 1972

0 of 3 sections shown

3 other sections in this Part — procedural and definitional

s.105 Amendment of the Statutory Auditors and Third Country Auditors Regulations 2016

s.106 In regulation 3 (the competent authority)— (a) in paragraph (2)(b),...

s.107 After regulation 13 (power to grant exemptions from the requirements...

Part 6

Approval of Equivalent Third Countries, Transitional Third Countries and Third Country Competent Authorities

0 of 2 sections shown

2 other sections in this Part — procedural and definitional

s.108 Approval of Equivalent Third Countries and Transitional Third Countries

s.109 Approval of Third Country Competent Authorities

Part 7

Revocations

0 of 1 section shown

1 other section in this Part — procedural and definitional

s.110 Revocation of retained direct EU legislation

Part 8

Transitional provisions

0 of 1 section shown

1 other section in this Part — procedural and definitional

s.111 Transitional provisions

Schedules

0 of 9 shown

9 other schedules

s.sch001 Equivalent third countries

s.sch001 Transitional third countries

s.sch002 Approved third country competent authorities

s.sch003 The following instruments are revoked— (a) Commission Decision No. 2008/627/EC...

s.sch004 The amendments made by the following regulations do not apply...

s.sch004 In its continuing application in relation to audits of accounts...

s.sch004 In relation to audits of accounts for financial years that...

s.sch004 For investigations under the Statutory Auditors and Third Country Auditors...

s.sch004 For the purposes of this Schedule— (a) the definitions in...

Duty extraction and severity labels are Guvnor’s analysis of the instrument, not the instrument itself. Always verify against the linked source text.