The following Corporate practice note provides comprehensive and up to date legal information covering:
BREXIT IMPACT: The UK audit regime may be affected by Brexit. For further details of its impact, see Brexit—statutory audit.
There are statutory provisions relating to the appointment of:
an auditor of a private company
an auditor of a public company
In addition, there may be other rules relating to the appointment of an auditor that apply to a listed company, an AIM company or a company with securities that are listed on the AQSE Main Market, AQSE Growth Market or AQSE Trading (formerly NEX Exchange Main Board, NEX Exchange Growth Market and NEX Exchange Secondary Market), but these are outside the scope of this Practice Note.
Where a new auditor is to be appointed in place of an outgoing auditor whose term of office has expired, or is to expire, see Practice Note: Failure to re-appoint an auditor.
In relation to the terms of an auditor's appointment and remuneration, see Practice Note: An auditor’s terms of appointment and remuneration.
For a form of resolution to appoint or re-appoint an auditor and fix its remuneration, see precedent: Resolution to appoint or re-appoint an auditor and fix his remuneration.
For information on the various emergency measures relating to financial reporting and audit implemented by the relevant regulatory authorities as a result of the coronavirus pandemic see Practice Note: Coronavirus (COVID-19)—impact on annual accounts and reports. For quick links
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The Financial Conduct Authority Handbook (FCA Handbook) includes sourcebooks to regulate the conduct of business by a regulated firm relevant to insurers: the Conduct of Business Sourcebook (COBS) and the Insurance Conduct of Business Sourcebook (ICOBS). This Practice Note considers how these
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