The Companies Act 1985 dictates that it is the responsibility of shareholders (rather than directors) to appoint the auditor at the annual general meeting (AGM) – section 384 of the act refers.
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The main enforcement of auditor independence is through the Companies Act 1985 and the Companies Act 1989 although the matter is also covered by the professional accounting bodies’ rules of professional conduct and the Auditing Practices Board.
Headed by the Inspector of Companies, CIB exercises on behalf of the Secretary of State for Business, Enterprise and Regulatory Reform the statutory powers of enquiry under the Companies Act 1985 and other legislation.
In 1984, the government published a White Paper and a new TSB Bill, in which the quasi-federal decentralised structure was abandoned in favour of a single central organisation that no longer had a unique corporate status but was incorporated under the Companies Act 1985.
Act of Parliament | Act | 1985 | Statute Law Revision Act 1948 | 1985 in music | Statute Law Revision Act 1888 | Act of Congress | Reform Act 1832 | Patient Protection and Affordable Care Act | Endangered Species Act | Digital Millennium Copyright Act | Clean Water Act | American Recovery and Reinvestment Act of 2009 | National School Lunch Act | Statute Law Revision Act 1863 | Criminal Justice Act 1988 | Local Government Act 1972 | Americans with Disabilities Act of 1990 | 1985–86 in English football | Racketeer Influenced and Corrupt Organizations Act | companies | Communications Act 2003 | 1985 in television | Statute Law Revision Act 1887 | Consumer Credit Act 1974 | ACT | Stamp Act | Official Secrets Act 1989 | National Firearms Act | act |