Auditors Application and Definitions
Application provision
1.1 The changes to this rule are effective from 23:00 on 31/12/2020.
1.1
31/12/2020
1.2
19/06/2014
In 1.1, where firm refers to a managing agent, it applies in respect of the managing agent’s own business and in respect of the insurance business of each syndicate that the managing agent manages.
1.3
07/03/2019
In this Part the following definitions shall apply:
- means
- (1) (in relation to a company incorporated in the UK) its annual accounts and reports as defined in section 471 of the Companies Act 2006; or
- (2) (in relation to any other body) any similar or analogous documents which it is required to prepare whether by its constitution or by the law under which it is established.
means
- (1) (in relation to a company incorporated in the UK under the Companies Acts) the accounting reference date of that company determined in accordance with section 391 of the Companies Act 2006; or
- (2) (in relation to any other body) the last day of its financial year.
means the aggregate of the amounts shown as assets in the balance sheet.
- means, in relation to a firm, an undertaking that:
- (1) is a parent undertaking of the firm; and
- (2) is not a subsidiary undertaking of another undertaking.