Companies Act 2014 section 935B

Investigation of possible relevant contraventions

Section 935B provides the framework for investigating potential breaches of statutory audit requirements under the Companies Act 2014, as introduced by the European Union statutory audits regulations and subsequently amended.

• This section was introduced to transpose EU requirements on the oversight and investigation of statutory auditors and audit firms.
• It establishes the basis on which possible relevant contraventions of audit-related obligations may be investigated.
• The section was originally enacted through SI 312/2016, which implemented EU Directive 2006/43/EC (as amended by Directive 2014/56/EU) and EU Regulation No 537/2014.
• The section was subsequently amended by Section 3(1)(c) of the Companies (Statutory Audits) Act 2018 to refine the investigation framework.