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1140613
star this property registered interest false more like this
star this property date less than 2019-07-19more like thismore than 2019-07-19
star this property answering body
Department for Business, Energy and Industrial Strategy more like this
star this property answering dept id 201 more like this
star this property answering dept short name Business, Energy and Industrial Strategy more like this
star this property answering dept sort name Business, Energy and Industrial Strategy more like this
star this property hansard heading Accountancy and Audit remove filter
unstar this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Secretary of State for Business, Energy and Industrial Strategy, with reference to the Guidance on how to prepare for Brexit if there's no deal, published by his Department, what parts of the plan for accounting and audit in the event that the UK leaves the EU without a deal have been implemented. more like this
star this property tabling member constituency Streatham more like this
star this property tabling member printed
Chuka Umunna more like this
star this property uin 279462 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2019-08-02more like thismore than 2019-08-02
star this property answer text <p>If the UK leaves the EU without a withdrawal agreement, UK registered auditors will be treated largely as third country auditors in the EEA. Similarly, UK companies will be treated largely as third country companies for accounting and audit purposes. EEA auditors and EEA companies in the UK will also be treated as third country auditors and third country companies in the UK under changes that will be made effective in part through amendments to UK legislation. However, the UK Government has put in place a framework that will allow some continuing market access for EEA auditors to the UK for a limited period in order to provide continuity for businesses in the period following the UK’s exit.</p><p> </p><p>The Government’s technical notice on accounting and audit if there is no Brexit deal sets out the implications of No Deal for businesses operating across the EU/UK border. Almost all the legislative changes referenced in this guidance have been made via:</p><p>- the Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019;</p><p>- the Accounts and Reports (Amendment) (EU Exit) Regulations 2019;</p><p>- the International Accounting Standards and European Public Limited-Liability Company (Amendment etc.) (EU Exit) Regulations 2019.</p><p> </p><p> </p>
star this property answering member constituency Rochester and Strood remove filter
star this property answering member printed Kelly Tolhurst more like this
star this property question first answered
less than 2019-08-02T12:19:21.667Zmore like thismore than 2019-08-02T12:19:21.667Z
star this property answering member
4487
unstar this property label Biography information for Kelly Tolhurst more like this
star this property tabling member
4128
unstar this property label Biography information for Chuka Umunna more like this