The Statutory Auditors Regulations 2017

Amendments to the Companies (Revision of Defective Accounts and Reports) Regulations 2008

9.  In regulation 7 (auditor’s report on revised accounts and revised report)—

(a) for the introductory words in paragraph (1) substitute—

“(1) 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)(1), 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,”;

(b) after paragraph (1) insert—

“(1A) The modifications are that—

(a) for the references to the report on the company’s annual accounts in sections 495(1), 496(1)(2) and 497(1) there were substituted a reference to the report under this regulation,

(b) the—

(i) requirements of the 2006 Act (and, where applicable, Article 4 of the IAS Regulation(3)) 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.”;

(c) in paragraph (3)—

(i) omit the first paragraph;

(ii) after “The” insert “auditor’s”;

(iii) omit from “or (in the” to the end;

(d) omit paragraph (4).

(1)

Section 495 was amended by S.I. 2013/3008, 2016/649 and 2017/516.

(2)

Section 496 was substituted by S.I. 2015/980 and amended by S.I. 2016/649.

(3)

OJ No L 243, 11.09.02, p. 1, amended by Regulation (EC) No 297/2008 ( OJ No L 97, 09.04.08, p. 62).