Companies Act 2014 section 1552

Cooperation with other Member States

Section 1552 assigns the Supervisory Authority responsibility for cooperating with competent authorities in other EU Member States as required by the Audit Directive.

• The Supervisory Authority is formally assigned responsibility for the cooperation obligations arising under Article 33 of the EU Audit Directive.
• This cooperation relates to the cross-border oversight and regulation of statutory audits across EU Member States.
• The Supervisory Authority must establish appropriate mechanisms to discharge this cooperation responsibility.
• These mechanisms must include formal arrangements and agreements with the competent authorities in other Member States.