Companies Act 2014 section 1516

Directors' report to include date of last appointment of statutory auditor or audit firm

Section 1516 requires the directors' report of a public-interest entity to disclose the date of the most recent appointment of its statutory auditor or audit firm, and to include details of any extension to the audit engagement period granted by the Supervisory Authority.

• The directors' report of a public-interest entity must state the date on which its current statutory auditor or audit firm was appointed.
• Where an extension to the maximum audit engagement period has been sought from the Supervisory Authority under section 1548, details of any extension granted must also be disclosed in the directors' report.
• The "directors' report" referred to here is the report that every company is obliged to prepare for each financial year under section 325 of the Companies Act 2014.
• These disclosure requirements apply specifically to public-interest entities, such as listed companies, credit institutions, and insurance undertakings.