Section 1253C

If the Secretary of State receives notice from a recognised supervisory body under section 1223A(1) (notification of matters relevant to approved third country competent authorities) that— the Secretary of State must notify the relevant approved third country competent authority. a person has become eligible for appointment as a statutory auditor, or a person’s eligibility for appointment as a statutory auditor has been withdrawn, In subsection (1) “the relevant approved third country competent authority” means the approved third country competent authority which has approved the person concerned ... to carry out audits of annual accounts or consolidated accounts .... The notification under subsection (1) must include the name of the person concerned and , in a case where a person’s eligibility for appointment as a statutory auditor has been withdrawn, the reasons for the withdrawal. The Secretary of State must notify the relevant approved third country competent authority if he has reasonable grounds for suspecting that— a person has contravened the law of the United Kingdom, or any equivalent third country or transitional third country, relating to audit, and the act or omission constituting that contravention took place on the territory of an equivalent third country or transitional third country. In subsection (4) “the relevant approved third country competent authority” means the approved third country competent authority for the country or territory in which the suspected contravention took place. The notification under subsection (4) must include the name of the person concerned and the grounds for the Secretary of State's suspicion.

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Source: legislation.gov.uk · retrieved 2026-09-04