Local Audit and Accountability Act 2014 (c. 2)

SCHEDULES

SCHEDULE 5 E+W Eligibility and regulation of local auditors

26 (1) Section 1261 (minor definitions) applies with the following modifications. E+W

(2) In subsection (1) omit the following definitions—

• “audit working papers”;

• “company”;

• “parent undertaking” and “subsidiary undertaking”;

• “third country”;

• “third country auditor”;

• “third country competent authority”;

• “transfer”.

(3) In subsection (1) [F1 —

(a) in the definition of “EEA competent authority”, omit “other than the United Kingdom”, F2 ...

(b)] in the definition of “officer”, after “a body corporate” insert “ other than a relevant authority ” [F3 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;”.]

(4) After subsection (1) insert—

“(1A) Expressions used in this Part that are defined in the Local Audit and Accountability Act 2014 have the same meaning as in that Act.”

[F4 (5) In subsection (2A), after “EEA State” insert “and subject to the Audit Directive.”.]

Textual Amendments

F1 Words in Sch. 5 para. 26(3) inserted (31.12.2020) by The Local Audit (England and Wales) (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/504), regs. 1(2), 5(a); 2020 c. 1, Sch. 5 para. 1(1)

F2 Word in Sch. 5 para. 26(3) omitted (1.12.2023) by virtue of The Recognition of Professional Qualifications and Implementation of International Recognition Agreements (Amendment) Regulations 2023 (S.I. 2023/1286), reg. 1, Sch. 3 para. 91(2)(a)

F3 Sch. 5 para. 26(3)(c) and word inserted (1.12.2023) by The Recognition of Professional Qualifications and Implementation of International Recognition Agreements (Amendment) Regulations 2023 (S.I. 2023/1286), reg. 1, Sch. 3 para. 91(2)(b)

F4 Sch. 5 para. 26(5) inserted (31.12.2020) by The Local Audit (England and Wales) (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/504), regs. 1(2), 5(b); 2020 c. 1, Sch. 5 para. 1(1)

Commencement Information

I1 Sch. 5 para. 26 in force at 16.12.2014 in so far as not already in force by S.I. 2014/3319, art. 2(e)