Cap. 376 ст. 17AAccounting and statutory audit.

(1) Directive 86/635/EEC, Directive 2013/34/EU and

Regulation (EC) No. 1606/2002 shall, mutatis mutandis, apply to financial institutions.

(2) Unless exempted under Directive 2013/34/EU and, where applicable, Directive 86/635/EEC, the annual accounts and consolidated accounts of financial institutions shall be audited by statutory auditors or audit firms within the meaning of Directive 2006/43/EC of the European Parliament and of the Council of 17 May 2006 on statutory audits of annual accounts and consolidated accounts, amending Council Directives 78/660/EEC and 83/349/EEC and repealing Council Directive 84/253/EEC, as amended from time to time.

(3) Payment institutions and electronic money institutions shall provide to the competent authority separate accounting information for payment services and for the activities referred to in paragraphs 3(a),

(b) and (c) of the Second Schedule, that shall be subject to an auditor’s report, as may be stipulated in a Financial Institutions Rule.

(4) The auditor’s report referred to in sub-article (3) shall be prepared, where applicable, by the statutory auditors or an audit firm.