Companies Act 2014 section 1556

Obligation to supply information required for certain purposes and saving concerning confidential information

Section 1556 requires the Supervisory Authority and recognised accountancy bodies to supply information promptly when requested for cross-border cooperation purposes, and clarifies that confidentiality rules do not prevent compliance with such requests.

• The Supervisory Authority or a recognised accountancy body must provide information without undue delay when requested for EU cross-border cooperation purposes.
• The obligation applies to information needed for cooperation between competent authorities in different EU member states regarding statutory audit oversight.
• Confidentiality obligations do not prevent the Supervisory Authority or a recognised accountancy body from complying with these information requests.
• The exchange of confidential information between the relevant bodies is expressly permitted in this context, overriding the general confidentiality provisions.