Companies Act 2014 section 1645

Right of recognised accountancy body as regards professional discipline

Section 1645 deals with the right of a recognised accountancy body to discipline statutory auditors and audit firms involved in the assurance of sustainability reporting.

• Recognised accountancy bodies have the authority to take disciplinary action against statutory auditors and audit firms who carry out assurance of sustainability reporting.
• These bodies may also impose sanctions on such auditors and firms.
• Recognised accountancy bodies must have procedures in place to facilitate the taking of disciplinary action.
• The procedures must also support the effective imposition of sanctions.