Companies Act 2014 section 1532

Future viability

Section 1532 clarifies the boundaries of a statutory audit by confirming that it does not provide assurance on a company's future viability or on the quality of management by its directors.

• A statutory audit does not provide assurance on the future viability of the audited company.
• A statutory audit does not assess the efficiency or effectiveness of how the directors have conducted the company's affairs.
• A statutory audit does not assess how the directors will conduct the company's affairs in the future.
• These limitations apply without prejudice to existing reporting requirements under sections 336, 337, 391 and, where applicable, EU Regulation 537/2014.