Audit authority and accounting authority notifications on an auditor ceasing to hold office—non-public interest company
Audit authority and accounting authority notifications on an auditor ceasing to hold office—non-public interest company

The following Corporate practice note provides comprehensive and up to date legal information covering:

  • Audit authority and accounting authority notifications on an auditor ceasing to hold office—non-public interest company
  • Brexit impact
  • Background
  • Notifications to the appropriate audit authority on an auditor ceasing to hold office
  • What is the ‘appropriate audit authority’?
  • Duty of auditor to send statement to appropriate audit authority
  • Duty of company to notify appropriate audit authority
  • Provision of information from appropriate audit authority to accounting authorities

Brexit impact

The UK audit regime may be affected by Brexit. For further details of its impact, see Brexit—statutory audit.

Background

There are statutory provisions relating to the notices and statements required on an auditor ceasing to hold office.

Section 18 and Schedule 5 of the Deregulation Act 2015 (DA 2015), which came into force on 1 October 2015, made a number of changes in relation to auditors, which include provisions dealing with the notices and statements required on an auditor ceasing to hold office. These provisions have effect in relation to financial years beginning on or after 1 October 2015.

For the purpose of the notices and statements required on an auditor ceasing to hold office, the DA 2015 amended the Companies Act 2006 (CA 2006) to make a distinction between public interest companies and non-public interest companies (each being treated slightly differently), rather than the distinction between quoted companies and unquoted companies (again, each being treated slightly differently) which applied before the DA 2015 amended the CA 2006. A public interest company is essentially a UK-listed company or a company whose equity share capital is officially listed in an EEA state and a non-public interest company is any other company.

This Practice Note relates to a statement by an auditor of a non-public interest company ceasing to hold office in relation to a financial year beginning on or

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