The
Department for Business, Innovation and Skills has today published a consultation paper concerning the simplification of the arrangements for the provision of information when an auditor leaves office: see
here (
pdf). In particular, the Government is seeking views on:
- removing the duty to notify audit authorities of an auditor’s departure in some cases where it is of little interest to those authorities;
- removing the duty on the audit authorities to notify the accounting authorities of all auditor departures of which they are informed;
- whether there should be any changes to requirements for information to be provided to investors when auditors leave listed companies;
- removing the need for companies to notify Companies House in certain cases of auditor departure; and
- simplifying the legislation by clarifying definitions.
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