Examples of the Audit Regulation in a sentence
Where applicable, the audit report will be presented in accordance with the Audit Directive and the Audit Regulation.
Finally, this instrument makes amendments to the Audit Regulation for its application as a part of UK law.
This instrument makes amendments to the legislation that implements the Audit Directive and to the retained UK version of the Audit Regulation.
Finally, the Audit Regulation includes further provisions on the competent authority for statutory audit including limitations on its ability to delegate functions to accountancy professional bodies for regulation of the statutory audit of PIEs. For the purpose of effective audit regulation across the EU, this includes a framework for regulatory cooperation with other Member State competent authorities.
As the Audit Law envisages that a pool of QA inspectors, to be established by 2017, composed of practicing auditors, it conflicts with the Audit Regulation.
These Regulations implement the obligations of the Audit Directive and the Audit Regulation in relation to companies and building societies.
As a result, the relevant companies and their auditors will not be subject to the provisions of the Audit Regulation (or to certain other provisions in the Companies Act 2006 and the regulations themselves that apply only to PIEs and their auditors).
However, if the FRC proposes to adopt ISAs that conflict with Articles 7, 8 and 18 of the Audit Regulation as it applies in the UK, or paragraphs 1 to 15 of Schedule 1 to the Statutory Auditors and Third Country Auditors Regulations 2016, the Secretary of State is granted a new power in those regulations to amend these Articles and paragraphs if the Secretary of State considers it appropriate.
With about 30 % of the affiliates being established outside the EU, the system is becoming a key reference in order to meet legal requirements for placing feed additives and premixtures on the EU market.
Given the Financial Markets Authority (FMA) already has the central regulatory role under the Audit Regulation Act we recommend that the FMA be given authority to approve and supervise a scheme.