Companies Act 2014 section 930C

Operation of certain provisions with regard to particular recognised accountancy bodies

Section 930C establishes rules for determining which recognised accountancy body is responsible for carrying out particular functions when the legislation refers to a "recognised accountancy body" without specifying which one.

• The responsible accountancy body is generally the one of which the auditor (or the auditor's firm) holds membership
• For auditors from other EU Member States, third countries, or non-members, responsibility is allocated by written arrangements between the bodies or, failing that, by the Supervisory Authority
• Accountancy bodies must consult the Supervisory Authority before agreeing arrangements among themselves on these responsibilities
• Where one body must withdraw an approval originally granted by a different body, special notification, cooperation, and fairness procedures apply