Companies Act 2014 section 1384A

Application of section 393 to a company to which Part 23 applies

Section 1384A extends the statutory auditor's obligation to report suspected offences to the Registrar, so that it covers additional categories of serious offence relevant to publicly traded companies.

• The existing duty on auditors under section 393 to report suspected category 1 or category 2 offences is broadened for companies falling under Part 23 (publicly traded companies and related entities).
• The expanded reporting duty now also covers serious Market Abuse offences, serious Prospectus offences, and serious Transparency offences.
• A serious Market Abuse offence is one triable on indictment under section 1368; a serious Prospectus offence is one under section 1356; and a serious Transparency offence is one under section 1382.
• Apart from the wider scope of reportable offences, the auditor's reporting obligations and procedures remain the same as those set out in section 393.

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