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The Statutory Auditors and Third Country Auditors Regulations 2016
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- UK Statutory Instruments
- 2016 No. 649
- SCHEDULE 3
- PART 3
- Paragraph 13
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13.—(1) Section 495 (auditor's report on company's annual accounts) M1is amended as follows.U.K.
(2) For subsection (2) substitute—
“(2) The auditor's report must include—
(a)the identity of the company whose annual accounts are the subject of the audit,
(b)a description of the annual accounts that are the subject of the audit (including the period covered by those accounts),
(c)a description of the financial reporting framework that has been applied in the preparation of those accounts, and
(d)a description of the scope of the audit identifying the auditing standards in accordance with which the audit was conducted.”
(3) For subsection (4) substitute—
“(4) The auditor's report—
(a)must be either unqualified or qualified,
(b)must include a reference to any matters to which the auditor wishes to draw attention by way of emphasis without qualifying the report,
(c)must include a statement on any material uncertainty relating to events that may cast significant doubt about the company's ability to continue to adopt the going concern basis of accounting, and
(d)must identify the auditor's place of establishment.”.
(4) After subsection (4) insert—
“(5) Where more than one person is appointed as an auditor—
(a)all the persons appointed must jointly make a report under this section and the report must include a statement as to whether all the persons appointed agree on the matters contained in the report, and
(b)if all the persons appointed cannot agree on the matters contained in the report, the report must include the opinions of each person appointed and give reasons for the disagreement.”.
Marginal Citations
M1Section 495 was amended by S.I. 2013/3008.
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