- Draft legislation
This is a draft item of legislation. This draft has since been made as a UK Statutory Instrument: The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019 No. 177
91. In Article 17 (duration of the audit engagement)—
(a)omit paragraph 2;
(b)omit paragraph 4;
(c)in paragraph 7—
(i)in the first subparagraph, for “audited entity” in both places substitute “audited person”;
(ii)omit the second subparagraph;
(iii)in the third subparagraph—
(aa)omit “or the audit firm” in both places;
(bb)for “persons who are registered” substitute “individuals who are eligible for appointment”;
(iv)in the fourth subparagraph, omit “or the audit firm” in both places;
(d)in paragraph 8—
(i)in the first subparagraph—
(aa)for “this Article” substitute “the provisions for the appointment of statutory auditors by public interest entities”;
(bb)omit “or the audit firm”;
(ii)in the second subparagraph—
(aa)for “the audit firm shall” substitute “where the statutory auditor is a firm it must”;
(bb)for “other firms that the audit firm has acquired or that have merged with it.” substitute “any other statutory auditor that is also a firm and has been acquired by or has merged with the first statutory auditor”;
(iii)in the third subparagraph, omit “or the audit firm” in both places.
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