Guidance

Statutory Audit Services Order 2014

The order provides for more regular tendering and accountability of statutory audit services.

Documents

Statutory Audit Services for Large Companies Market Investigation Order 2014

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Explanatory note

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Details

This order was made under the market investigations provisions of the Enterprise Act 2002. It requires companies listed on the FTSE 100 and FTSE 250 indices to:

  • put their statutory audit services out to tender at least every 10 years
  • say when they plan to go out to tender for these services next if they have not done so for 5 years and explain their decision

The order also contains measures to strengthen the accountability of the auditor to the company’s audit committee.

Published 15 October 2014