Companies Act 2014 section 1647

Co-operation and mutual recognition of regulatory arrangements between Member States

Section 1647 extends the existing rules on cross-border cooperation and mutual recognition of regulatory arrangements between EU Member States to cover sustainability reporting assurance, in the same way they already apply to statutory audits.

• The cooperation and mutual recognition rules in Chapters 17 and 18 of Part 27 apply equally to sustainability reporting assurance as they do to statutory audits
• References to carrying out statutory audits are read as references to carrying out sustainability reporting assurance
• References to the audited undertaking are read as references to the company subject to sustainability reporting assurance
• Any other necessary modifications are made to ensure the rules work properly in the sustainability reporting context