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Technical factsheet 160
The provisions of Schedule 10 of the Companies Act 2006 have introduced new requirements in respect of allowing successor auditors access to information held by outgoing auditors. The requirements have been incorporated into ACCA’s Global Practising Regulations (GPRs) and contained in paragraph 18 (d) of Annex 1 to the GRPs, which states: ‘In the United Kingdom, a person ceasing to hold office as a statutory auditor shall make available to his successor in that office all relevant information which he holds in relation to that audit.’ The new rules are applicable for accounting periods beginning on or after 6 April 2008.
ACCA has produced Technical Factsheet 160 covering the procedure expected to be followed by ACCA members and member firms whenever the office of statutory auditor changes and access to information held by the predecessor auditor is sought. The guidance details the procedure expected to be followed by successor and predecessor auditors respectively and includes illustrative examples of letters that should be used.
Technical Factsheet 160: ‘Guidance on access to information by successor auditors’ is available from the publications section of ACCA’s website.