Auditors Auditors’ Qualifications
Application provision
1.1 This Part applies to:
- (1) every firm, except for an incoming firm that does not have a top-up permission; and
- (2) the external auditor of such a firm (if appointed under 2 or appointed under or as a result of a statutory provision other than in FSMA).
3.1
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Before a firm appoints an auditor, it must take reasonable steps to ensure that the auditor:
- (1) has the required skill, resources and experience to perform its functions under the regulatory system commensurate with the nature, scale and complexity of the firm's business and the requirements and standards under the regulatory system to which it is subject; and
- (2) is eligible for appointment as an auditor under any applicable laws.
3.2
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