The Companies (Revision of Defective Accounts and Reports) Regulations 2008

Auditor's report on revised accounts and revised report U.K.

7.—(1)  [F1 Subject to paragraph (2), where a company has revised its accounts and its strategic report, directors’ report or directors’ remuneration report under section 454 of the 2006 Act, a company’s current auditor or auditors shall make a report or (as the case may be) further report under section 495 of the 2006 Act (auditor’s report on company’s annual accounts), to the company’s members on those revised accounts and revised reports, and—

(za) subject to the modifications in paragraph (1A), the requirements of sections 495 to 497 of the 2006 Act apply, as appropriate, to the report on the revised accounts or the revised report as they applied to the, or would have applied to a, report on the original annual accounts, strategic report, directors’ report or directors’ remuneration report,]

(a) section 498 of that Act (duties of auditor) applies with any necessary modifications, and

(b) section 495(1) does not apply with respect to the revised accounts.

[F2 (1A) The modifications are that—

(a) for the references to the report on the company’s annual accounts in sections 495(1), 496(1) and 497(1) there were substituted a reference to the report under this regulation,

(b) the—

(i) requirements of the 2006 Act F3 ... in accordance with which the revised accounts must have been prepared, referred to in section 495(3)(c),

(ii) the applicable legal requirements in accordance with which the revised strategic report and revised directors’ report must have been prepared, referred to in section 496(1)(a)(ii), and

(iii) the requirements of the 2006 Act in accordance with which the revised directors’ remuneration report must have been properly prepared, referred to in section 497(1)(b),

are construed in accordance with regulation 3.]

(2) Where the auditor's report on the original annual accounts was not made by the company's current auditor, the directors of the company may resolve that the report required by paragraph (1) is to be made by the person or persons who made that report, provided that that person or those persons agree to do so and would be qualified for appointment as auditor of the company.

(3) F4 ... The [F5 auditor’s] report must also state whether in the auditor's opinion the original annual accounts failed to comply with the requirements of the 2006 Act F6 ... in the respects identified by the directors (in the case of a revision by replacement) in the statement required by regulation 4(2)(a)(iv) F7 ....

F8 (4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(5) Sections 503 to 506 of the 2006 Act (signature of auditor's report) apply to an auditor's report under this regulation as they apply to an auditor's report under section 495(1) of that Act, with any necessary modifications.

(6) An auditor's report under this regulation shall, upon being signed under section 503 of the 2006 Act as so applied, be, as from the date of signature, the auditor's report on the annual accounts of the company in place of the report on the original annual accounts.

Textual Amendments

F1 Words in reg. 7(1) substituted (1.1.2018) by The Statutory Auditors Regulations 2017 (S.I. 2017/1164), reg. 1(2)(3), 9(a) (with reg. 2(6)(7))

F2 Reg. 7(1A) inserted (1.1.2018) by The Statutory Auditors Regulations 2017 (S.I. 2017/1164), reg. 1(2)(3), 9(b) (with reg. 2(6)(7))

F3 Words in reg. 7(1A)(b) omitted (31.12.2020) by virtue of The International Accounting Standards and European Public Limited-Liability Company (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/685), reg. 1(2), Sch. 1 para. 55(3)(a) (with reg. 1(3)(4)) (as amended by S.I. 2020/523, regs. 1(2), 22); 2020 c. 1, Sch. 5 para. 1(1)

F4 Words in reg. 7(3) omitted (1.1.2018) by virtue of The Statutory Auditors Regulations 2017 (S.I. 2017/1164), reg. 1(2)(3), 9(c)(i) (with reg. 2(6)(7))

F5 Word in reg. 7(3) inserted (1.1.2018) by The Statutory Auditors Regulations 2017 (S.I. 2017/1164), reg. 1(2)(3), 9(c)(ii) (with reg. 2(6)(7))

F6 Words in reg. 7(3) omitted (31.12.2020) by virtue of The International Accounting Standards and European Public Limited-Liability Company (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/685), reg. 1(2), Sch. 1 para. 55(3)(b) (with reg. 1(3)(4)) (as amended by S.I. 2020/523, regs. 1(2), 22); 2020 c. 1, Sch. 5 para. 1(1)

F7 Words in reg. 7(3) omitted (1.1.2018) by virtue of The Statutory Auditors Regulations 2017 (S.I. 2017/1164), reg. 1(2)(3), 9(c)(iii) (with reg. 2(6)(7))

F8 Reg. 7(4) omitted (1.1.2018) by virtue of The Statutory Auditors Regulations 2017 (S.I. 2017/1164), reg. 1(2)(3), 9(d) (with reg. 2(6)(7))