Companies Act 2014 section 1521

Incoming statutory auditor or audit firm to be afforded access to information

Section 1521 requires an outgoing statutory auditor or audit firm to provide the incoming auditor or firm with access to all relevant information about the audited company and its most recent audit.

• When a statutory auditor or audit firm is replaced, the outgoing auditor must cooperate with the incoming auditor
• The outgoing auditor or firm must provide access to all relevant information concerning the audited company
• This includes information relating to the most recent audit carried out on that company
• The obligation applies equally whether the outgoing and incoming parties are individual auditors or audit firms