The Regulations amend section 1373 of the Companies Act 2014 by the substitution of subsection (7). The amendment clarifies the duties of the statutory auditor regarding the corporate governance statement, where such a statement is prepared. The new subsection 7 provides that where a company prepares a corporate governance statement, the statutory auditors shall, in their report:

  • provide an opinion as to the consistency of information provided with statutory financial statements;
  • state whether they have identified material misstatements in the information given and, if so, give an indication of the nature of such misstatements, and
  • state whether the information required pursuant to subsections (2)(a), (b), (e) and (f) is contained in the company’s corporate governance statement.”