The Recognition of Professional Qualifications and Implementation of International Recognition Agreements (Amendment) Regulations 2023

Amendments to the Local Audit and Accountability Act 2014

91.—(1) Schedule 5 to the Local Audit and Accountability Act 2014 (eligibility and regulation of local auditors)(1) is amended as follows.

(2) In paragraph 26(3)(2)—

(a) omit the “and” following paragraph (a);

(b) after paragraph (b), insert—

“and

(c) after the definition of “officer”, insert—

““specified state” means one of the states specified in Schedule 1 to the Recognition of Professional Qualifications and Implementation of International Recognition Agreements (Amendment) Regulations 2023;

“specified state auditor” means an individual who is eligible to conduct audits of the accounts of bodies corporate that are incorporated or formed under the law of a specified state in accordance with the law of that state;”.”.

(3) In paragraph 27(3), in the table at the appropriate place, insert—

““specified state”	section 1261(1)
“specified state auditor”	section 1261(1)”.

(4) In paragraph 28(3)(3), in the substituted paragraph 6 of Schedule 10 to the Companies Act 2006, in sub-paragraph (1)—

(a) omit the “or” following paragraph (b);

(b) after paragraph (b), insert—

“(ba) is a specified state auditor who—

(i) holds professional qualifications obtained in a specified state that are comparable to an appropriate qualification; and

(ii) has met a requirement to take an aptitude test or to complete an adaptation period, or to undertake both, imposed on the individual by the body in accordance with Part 2 of the Recognition of Professional Qualifications and Implementation of International Recognition Agreements (Amendment) Regulations 2023, if such a requirement is so imposed, or”.

(1)

2014 c. 2.

(2)

The relevant amending instrument is S.I. 2019/504.

(3)

The relevant amending instrument is S.I. 2019/504.