Audit of accounts

7A

1

The scheme operator must send a copy of its annual accounts to the Comptroller and Auditor General as soon as is reasonably practicable.

2

The Comptroller and Auditor General must—

a

examine, certify and report on accounts received under this paragraph, and

b

send a copy of the certified accounts and the report to the Treasury.

3

The Treasury must lay the copy of the certified accounts and the report before Parliament.

4

The scheme operator must send a copy of the certified accounts and the report to the FCA.

5

Except as provided by paragraph 7(5), the scheme operator is exempt from the requirements of Part 16 of the Companies Act 2006 (audit), and its balance sheet must contain a statement to that effect.

6

In this paragraph “annual accounts” has the meaning given by section 471 of the Companies Act 2006.