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Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.

Audit Regulation

    the UK version of154 135Regulation (EU) No 537/2014 of the European Parliament and of the Council of 16 April 2014 on specific requirements regarding statutory audit of public-interest entities and repealing Commission Decision 2005/909/EC), which is part of UK law by virtue of the EUWA, except that any reference to Article 16 of that Regulation, shall, where and to the extent that the effect of that Article has been reproduced in any of the following enactments in relation to a category of issuer, be a reference to that enactment in relation to that category of issuer:154

      1. (1) for private companies, sections 485A to 485C and 494ZA of the Companies Act 2006; 154
      1. (2) for public companies, sections 489A to 489C and 494ZA of the Companies Act 2006;154
      1. (3) for building societies, paragraphs 3B to 3E of Schedule 11 to the Building Societies Act 1986;154
      1. (4) for friendly societies, paragraphs 2 to 5 of Schedule 14A to the Friendly Societies Act 1992;154
      1. (5) for limited liability partnerships, sections 485A to 485C and 494ZA of the Companies Act 2006 as applied by regulations 36 and 38A of the Limited Liability Partnerships (Accounts and Audit) (Application of the Companies Act 2006) Regulations 2008;154
      1. (6) for insurance undertakings within the meaning given by regulation 2 of The Insurance Accounts Directive (Miscellaneous Insurance Undertakings) Regulations 2008, sections 485A to 485C and 494ZA of the Companies Act 2006 as applied by regulation 6(1A) of those Regulations.154