The UK has left the EU and is now in a transition period before new rules come into place from 1 January 2021.
In order to give individuals and firms sufficient time to prepare for the changes which will take effect when the transition period ends on 31 December 2020, ACCA has published draft Global Practising Regulations (including Annex 1 and Appendix 1) which set out the proposed amendments to the United Kingdom Audit Regulations 2016. The revised regulations will be implemented on 1 January 2021. We will be monitoring developments closely and will update these guidelines when necessary.
Technical factsheet: guidance on access to information by successor auditors
Guidance on 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.