Companies Act 2014 section 1468

Restriction on acting as statutory audit firm

Section 1468 prohibits a firm from acting as, describing itself as, or holding itself out as a statutory audit firm unless it has been properly approved or registered.

• A firm must not act as a statutory audit firm without the required approval or registration.
• A firm must not describe itself as a statutory audit firm unless it meets the necessary criteria.
• A firm must not hold itself out in any way that indicates or could reasonably be understood to indicate that it is a statutory audit firm without proper authorisation.
• The required authorisation is either approval under Part 27 of the Companies Act 2014 or registration under section 1465, which deals with audit firms approved in other EU Member States.