The Local Audit (Professional Qualifications and Major Local Audit) Regulations 2014
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Change 1
9 Practical training
(1) The qualification must be restricted to persons who have completed at least three years of practical training of which— (a) part was spent being trained in local audit work; and (b) a substantial part was spent being trained in— (i) local audit work, (ii) statutory audit work within the meaning of Part 42 of the Companies Act 2006 , or (iii) other audit work relating to any body whose accounts form part of the group for which the Treasury prepares accounts under section 9(1)(a) of the Government Resources and Accounts Act 2000 . (2) For the purposes of paragraph (1), “local audit work” includes equivalent work on the audit of the accounts of a public authority, and “statutory audit work” includes equivalent work on the audit of accounts, under the law of— (a) in relation to work which took place prior to exit day, an EEA state or part of an EEA state, other than the United Kingdom or part of the United Kingdom; (b) an equivalent third country or part of an equivalent third country; or (c) a transitional third country or part of a transitional third country. (2A) In paragraph (2)— “equivalent third country” means a third country granted approval or provisional approval as an equivalent third country in accordance with section 1240A(1) of the Companies Act 2006; “transitional third country” means a third country granted approval or provisional approval as a transitional third country in accordance with section 1240A(1) of the Companies Act 2006. (3) The training must be given by persons approved by the body offering the qualification as persons whom the body is satisfied, in the light of undertakings given by them and the supervision to which they are subject (whether by the body itself or some other body or organisation) will provide adequate training. (4) At least two-thirds of the training must be given by a person— (a) eligible for appointment as a local auditor; (b) eligible for appointment as a statutory auditor within the meaning of Part 42 of the Companies Act 2006; or (c) eligible for a corresponding appointment as an auditor under the law of an EEA State, or part of an EEA State .... (5) For the purposes of paragraph (4), Gibraltar is to be treated as if it were an EEA State.
9 Practical training
(1) The qualification must be restricted to persons who have completed at least three years of practical training of which— (a) part was spent being trained in local audit work; and (b) a substantial part was spent being trained in— (i) local audit work, (ii) statutory audit work within the meaning of Part 42 of the Companies Act 2006 , or (iii) other audit work relating to any body whose accounts form part of the group for which the Treasury prepares accounts under section 9(1)(a) of the Government Resources and Accounts Act 2000 . (2) For the purposes of paragraph (1), “local audit work” includes equivalent work on the audit of the accounts of a public authority, and “statutory audit work” includes equivalent work on the audit of accounts, under the law of— (a) in relation to work which took place prior to exit day, an EEA state or part of an EEA state, other than the United Kingdom or part of the United Kingdom; (b) an equivalent third country or part of an equivalent third country; or (c) a transitional third country or part of a transitional third country. (2A) In paragraph (2)— “equivalent third country” means a third country granted approval or provisional approval as an equivalent third country in accordance with section 1240A(1) of the Companies Act 2006; “transitional third country” means a third country granted approval or provisional approval as a transitional third country in accordance with section 1240A(1) of the Companies Act 2006. (3) The training must be given by persons approved by the body offering the qualification as persons whom the body is satisfied, in the light of undertakings given by them and the supervision to which they are subject (whether by the body itself or some other body or organisation) will provide adequate training. (4) At least two-thirds of the training must be given by a person— (a) eligible for appointment as a local auditor; (b) eligible for appointment as a statutory auditor within the meaning of Part 42 of the Companies Act 2006; or (c) eligible for a corresponding appointment as an auditor under the law of an EEA State, or part of an EEA State .... (5) For the purposes of paragraph (4), Gibraltar is to be treated as if it were an EEA State.
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