Companies Act 2014 section 1482

Certain persons to be notified of withdrawal of approval

Section 1482 requires a recognised accountancy body to notify specified parties when it withdraws approval from a statutory auditor or audit firm.

• When a recognised accountancy body withdraws approval from a statutory auditor or audit firm, it must report both the fact of the withdrawal and the reasons for it.
• The body must notify the Supervisory Authority and the Registrar of the withdrawal.
• This notification must be made as soon as possible, and no later than one month after the date of the withdrawal.
• This notification obligation is without prejudice to any additional notification requirements set out elsewhere in the Act (specifically section 1483, which deals with notifying other persons).