The Statutory Auditors and Third Country Auditors Regulations 2016

Review U.K.

24.—(1) The Secretary of State must from time to time—

(a) carry out a review of the provisions of these Regulations,

(b) set out the conclusions of the review in a report, and

(c) publish the report.

(2) The report must, in particular—

(a) set out the objectives intended to be achieved by those provisions,

(b) assess the extent to which those objectives are achieved,

(c) assess whether those objectives remain appropriate, and

(d) if those objectives remain appropriate, assess the extent to which they could be achieved in another way which involves less onerous regulatory provision.

(3) In carrying out the review the Secretary of State must, so far as is reasonable, have regard to how the Audit Directive is implemented in other member states.

(4) The first report under this regulation must be published before the end of the period of five years beginning with the date on which these Regulations come into force.

(5) Subsequent reports under this regulation must be published at intervals not exceeding five years.

(6) In this regulation, “regulatory provision” has the meaning given by section 32(4) of the Small Business, Enterprise and Employment Act 2015 M1 .

Marginal Citations

M1 2015 c. 26.