This section has no associated Explanatory Memorandum
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.