Amendments to the Local Audit and Accountability Act 2014U.K.
91.—(1) Schedule 5 to the Local Audit and Accountability Act 2014 (eligibility and regulation of local auditors)(1) is amended as follows.
(2) In paragraph 26(3)(2)—
(a)omit the “and” following paragraph (a);
(b)after paragraph (b), insert—
“and
(c)after the definition of “officer”, insert—
““specified state” means one of the states specified in Schedule 1 to the Recognition of Professional Qualifications and Implementation of International Recognition Agreements (Amendment) Regulations 2023;
“specified state auditor” means an individual who is eligible to conduct audits of the accounts of bodies corporate that are incorporated or formed under the law of a specified state in accordance with the law of that state;”.”.
(3) In paragraph 27(3), in the table at the appropriate place, insert—
““specified state” | section 1261(1) |
“specified state auditor” | section 1261(1)”. |
(4) In paragraph 28(3)(3), in the substituted paragraph 6 of Schedule 10 to the Companies Act 2006, in sub-paragraph (1)—
(a)omit the “or” following paragraph (b);
(b)after paragraph (b), insert—
“(ba)is a specified state auditor who—
(i)holds professional qualifications obtained in a specified state that are comparable to an appropriate qualification; and
(ii)has met a requirement to take an aptitude test or to complete an adaptation period, or to undertake both, imposed on the individual by the body in accordance with Part 2 of the Recognition of Professional Qualifications and Implementation of International Recognition Agreements (Amendment) Regulations 2023, if such a requirement is so imposed, or”.
Commencement Information
I1Sch. 3 para. 91 in force at 1.12.2023, see reg. 1
The relevant amending instrument is S.I. 2019/504.
The relevant amending instrument is S.I. 2019/504.