Companies Act 2014 section 1523

Access by Supervisory Authority to information and documents held by recognised accountancy bodies or relevant persons

Section 1523 sets out the powers of the Supervisory Authority to access information and documents held by recognised accountancy bodies and relevant persons, and the consequences of failing to comply with such requests.

• The Supervisory Authority may, by written notice, require a recognised accountancy body or relevant person to furnish specified documents or grant access to relevant documents within a specified period, where it is reasonably necessary for performing its functions
• A "relevant person" includes members of recognised accountancy bodies, their current or former clients, officers or employees of corporate clients, and anyone the Authority reasonably believes holds relevant information not restricted by law
• The Authority may additionally require an officer of the body or relevant person to attend before it and explain entries in the documents or otherwise assist in clarifying matters arising from its inspection
• Failure to comply with a request without reasonable excuse is a category 3 offence, and these powers do not diminish the Authority's separate powers under sections 933 and 934