Companies Act 2014 section 1528

Further responsibility of group auditor

Section 1528 sets out the responsibilities of a group auditor to ensure that audit documentation from third-country auditors is available to the Supervisory Authority, including what steps must be taken when such documentation cannot be obtained.

• The Supervisory Authority may request additional audit documentation relating to work performed by third-country auditors on group entities, using established working arrangements
• Where no such working arrangements exist, the group auditor is personally responsible for ensuring that the additional documentation, including audit working papers, can be delivered to the Supervisory Authority on request
• The group auditor must either retain a copy of the documentation, agree unrestricted access arrangements with the third-country auditors, or take other appropriate action to secure delivery
• If audit working papers cannot be obtained from a third country for legal or other reasons, the group auditor must retain evidence of the steps taken and, where the impediment is not a legal one, evidence supporting the existence of the obstacle