Part 7Accounts, audit and annual returns
Auditing of accounts etc
86Power to require accounts etc for past years to be audited by qualified auditor
1
The FCA may give a direction under this section to a registered society in respect of any relevant year.
2
A “relevant year”, in relation to a society, is any year of account before the current year of account for which—
a
the society was a small society and made an appointment under section 83(2)(b) (appointment of non-qualified auditors), or
b
section 83 did not apply to the society because of a resolution under section 84 (power to disapply auditing requirements).
3
If a direction is given—
a
the society must appoint one or more qualified auditors to audit its accounts and balance sheet for the relevant year, and
b
if the society sent its annual return for the relevant year to the FCA before the date of the direction, the society must (after audit, and within 3 months from receipt of the direction) send to the FCA a further annual return complying with the requirements of this Part (other than as to the time it is given).