SCHEDULES
SCHEDULE 5Auditors ceasing to hold office
PART 1Notification requirements
I111
1
Section 525 (meaning of “appropriate audit authority” and “major audit”) is amended as follows.
2
In subsection (1)—
a
in paragraph (a)—
i
for the words before sub-paragraph (i) substitute “
in relation to an auditor of a public interest company (other than an Auditor General)
”
;
ii
in sub-paragraph (ii), after “receiving the” insert “
statement or
”
;
b
in paragraph (b), for the words from the beginning to “a major audit” substitute “
in relation to an auditor of a non-public interest company (other than an Auditor General)
”
;
c
in paragraph (c), for “in the case of an audit conducted by” substitute “
in relation to
”
.
3
Omit subsections (2) and (3).
4
In the heading, omit “and “major audit””.