Companies Act 2014 section 1483

Other persons to be notified of withdrawal of approval

Section 1483 requires that when approval of a statutory auditor or audit firm is withdrawn, the relevant competent authorities in other EU Member States where the auditor or firm is also registered must be notified of the withdrawal and the reasons for it.

• When a recognised accountancy body withdraws approval from a statutory auditor or audit firm, it must notify the competent authorities in any host Member States where the auditor or firm is also approved and listed on public registers under the EU Audit Directive.
• These notifications are in addition to the notifications already required under section 1482, and must include the reasons for the withdrawal.
• Where the Supervisory Authority (rather than a recognised accountancy body) withdraws the approval, the same notification obligations apply, with references to the recognised accountancy body read as references to the Supervisory Authority.
• All notifications under this section must be made as soon as possible, and in any event no later than one month after the date on which the approval was withdrawn.