External Audit Appointment of Auditors

Application provision

1.1 Unless otherwise stated, this Part applies: 

  1. (1) to a UK Solvency II firm that is not a small firm for external audit purposes;
  2. (2) to the Society in accordance with General Application 3; and 
  3. (3) at the level of a group, that is not a small group for external audit purposes, to which Group Supervision 2.1(1) or 2.1(2) applies and where the PRA is the group supervisor, to a relevant insurance group undertaking; and 
  4. (4) to an external auditor of such a firm or group.

3.1

10/09/2016

A firm or a relevant insurance group undertaking must: 

  1. (1) appoint an external auditor in accordance with Auditors 2, 3 and 4 to perform the functions in 2; and 
  2. (2) submit the report to the PRA and disclose it publicly with the firm’s SFCR.