Sections 522 to 525
of the Companies Act 2006 set out the requirements on auditors and on companies to notify the “appropriate audit authority” when an auditor ceases to hold office. It is important to stress that both auditors and companies need to notify the “appropriate audit authority” and that there are significant differences in the detailed requirements on auditors and on companies.
These requirements came into force in 2008.
Guidance on the circumstances in which the FRC is the appropriate audit authority, how the notification to the FRC should be made, and what it must cover is provided in the form of:
There are separate requirements in relation to the statutory audits of those entities other than companies referred to in Section 1210
of the 2006 Act (meaning of “statutory auditor”). Please contact us for further guidance if you require information in respect of any such entities.
If you have queries in relation to this guidance, please email
or phone Shazia Ahmad on 0207 492 2339.