Application provision

1.1 This Part applies to:

  1. (1) every firm, except for an incoming firm that does not have a top-up permission; 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.