Supplementary: arrangements to operate independently of third country auditorU.K.
3(1)This paragraph applies for the purposes of—U.K.
(a)paragraph 1(1)(b), or
(b)[F1paragraph 2(1)(c)].
(2)Arrangements are not to be regarded as appropriate for the purpose of ensuring that a thing is done independently of the registered third country auditor unless they are designed to ensure that the registered third country auditor—
(a)will have no involvement in the appointment or selection of any of the persons who are to be responsible for doing that thing, and
(b)will not otherwise be involved in the doing of that thing.
(3)Sub-paragraph (2) imposes a minimum requirement and does not preclude the possibility that additional criteria may need to be satisfied in order for the arrangements to be regarded as appropriate for the purpose in question.
Textual Amendments
F1Words in Sch. 12 para. 3(1) substituted (1.10.2013) by The Statutory Auditors and Third Country Auditors Regulations 2013 (S.I. 2013/1672), regs. 3, 17(3)