Companies Act 2014 section 372

Statutory auditors' report on revised directors' report alone

Section 372 sets out the requirements for a statutory auditors' report when a company revises its directors' report without also revising the accompanying financial statements.

• When a directors' report is revised but the financial statements are not, the company's current statutory auditors must prepare a report on the revised directors' report in the standard format required for auditors' reports.
• If the company's auditors have changed since the original report was approved, the directors may ask the previous auditors to prepare this report, provided those previous auditors agree and remain qualified to act as statutory auditors.
• The auditors' report must state whether the information in the revised directors' report is consistent with the original financial statements for the relevant year, and must clearly indicate whether in their opinion it is or is not consistent.
• The standard rules governing the signing of statutory auditors' reports apply equally to a report prepared under this section, with any necessary modifications.