Application provision

1.1 The changes to this rule are effective from 23:00 on 31/12/2020.

This Part applies to:

  1. (1) every firm; and
  2. (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).



A firm must take reasonable steps to ensure that the auditor which it appoints is independent of the firm.



If a firm becomes aware at any time that its auditor is not independent of the firm, it must take reasonable steps to ensure that it has an auditor independent of the firm. The firm must notify the PRA if independence is not achieved within a reasonable time.