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The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019

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There are currently no known outstanding effects for the The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019, Section 80. Help about Changes to Legislation

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

(a)in paragraph 1, in the first subparagraph—

(i)omit “or an audit firm”;

(ii)omit “or the audit firm”;

(iii)for “audited entity” substitute “ audited person ”;

(iv)after “parent undertaking” insert “ (incorporated or formed in any part of the United Kingdom) ”;

(v)for “controlled undertakings” substitute “ subsidiary undertakings ”;

(vi)omit “within the Union”;

(vii)in point (a), for “period audited” substitute “ financial year of the accounts to be audited ”;

(viii)in point (b), for “the period referred to in point (a)” substitute “ that period ”;

(b)in paragraph 1, in the second subparagraph—

(i)in point (a)(iv), omit “or the audit firm”;

(ii)in point (a)(v), omit “or the audit firm”;

(iii)in point (b), for “audited entity” substitute “ audited person ”;

(iv)in point (c), for “financial statements” substitute “ accounts ”;

(v)in point (g)(ii), for “audited entity” substitute “ audited person ”;

(vi)in point (h), for “audited entity's” substitute “audited person's”;

(vii)in point (i)—

(aa)for “audited entity” in both places substitute “ audited person ”;

(bb)for “financial statements” substitute “ accounts ”;

(viii)in point (j), for “audited entity” substitute “ audited person ”;

(ix)in point (k)(i), for “financial statements” substitute “ the accounts ”;

(c)omit paragraph 2;

(d)in paragraph 4, in the first subparagraph—

(i)omit “or an audit firm”;

(ii)omit “or the audit firm”;

(iii)for “audited entity” substitute “ audited person ”;

(iv)after “parent undertaking” insert “ (incorporated or formed in any part of the United Kingdom) ”;

(v)for “controlled undertakings” substitute “ subsidiary undertakings ”;

(vi)for “Article 22b of Directive 2006/43/EC” substitute “ paragraph 8 of Schedule 1 to the Statutory Auditors and Third Country Auditors Regulations 2016 ”;

(e)in paragraph 4, omit the second subparagraph;

(f)omit paragraph 5.

Commencement Information

I1Reg. 80 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 2

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