Auditors Professional Oversight Third Country Auditors

Third Country Auditors

Third country auditors are non-EUauditors of certain companies incorporated outside of the EU and listed on EU-regulated markets. Further detail on which companies fall under this definition can be found on the Regulatory Background page.

In 2006 the EU implemented a system of regulation for third country auditors, which became effective in the UK in 2008. The system requires auditors of companies listed on EU-regulated markets to be subject to certain regulatory requirements, regardless of where the company, or auditor, is located. It is intended to enhance and safeguard public confidence in the financial statements of EU-traded companies audited by third country auditors.

Third country auditors are required to register with the Competent Authority of the EU Member State in which such companies are listed. In the UK, this is the FRC.

Further information, including the UK Register of Third Country Auditors, can be accessed below.

The UK left the European Union on 31 January 2020. Under the terms of the European Union (Withdrawal) Act 2018, a transition period now applies until the end of December 2020. During this time the UK and the EU Member States, and where applicable the other EEA States, will continue to treat one another on the same basis as before the UK left the EU, while arrangements are put in place for the future economic partnership between the UK and the EU. The details of those arrangements will be agreed and ratified in the period up to the end of December 2020.

During the transition period EEA auditors will continue to be eligible to sign audit opinions of companies listed on the UK regulated markets, without registering with the FRC as a third country auditor.

Information about future arrangements will be provided in due course.
In relation to existing non-EEA third countries, there is no change to the arrangements as a result of the UK leaving the EU.

If you have queries relating to third country auditors, please email us at or call Siân Burgess on 020 7492 2354.

1 For the purposes of the third country auditor regime, the EU includes all states within the European Economic Area (EEA).