Companies Act 2014 section 1462

Savings

Section 1462 preserves the continuing application of the 2016 Audits Regulations for financial years and other matters that pre-date the commencement of the Companies (Statutory Audits) Act 2018.

• The 2016 Audits Regulations continue to apply to statutory audits and the duties and powers of auditors and audit firms for financial years that commenced before the Companies (Statutory Audits) Act 2018 took effect.
• Any other matters addressed by the 2016 Audits Regulations before that commencement date also remain in force as they stood at that time.
• References in the 2016 Audits Regulations to the Companies Act 2014 or any of its provisions must be read as references to the version of the Act that was in force immediately before the commencement date.
• These savings provisions operate subject to the overarching framework set out in Chapter 22 of the Companies Act 2014.