AI Summary of 930B. Annual audit programme and activity report
The Supervisory Authority is mandated to produce an Annual Audit Programme and Activity Report (AAPA report) within six months following the conclusion of each financial year. This report must detail the oversight functions executed under section 930A and include an activity report on recognised accountancy bodies, as well as a proposed work programme for the upcoming year.
Additionally, the AAPA report should encompass the Supervisory Authority’s activities regarding Regulation (EU) No 537/2014, a report on the quality assurance system's outcomes, and essential performance indicators related to its resources and effectiveness. Ensuring timely publication on the authority’s website is also a requisite.
930B. Annual audit programme and activity report
(1) The Supervisory Authority shall, not later than 6 months after the end of each financial year, prepare a report (in this Act referred to as the 'annual audit programme and activity report' or 'AAPA report') in accordance with this section on, amongst others, its oversight functions referred to in section 930A performed during that year.
(2) The AAPA report shall contain the following information:
(a) an activity report on the functions performed by the recognised accountancy bodies during the financial year to which the AAPA report relates;
(b) a work programme concerning the oversight functions referred to in section 930A that the Supervisory Authority proposes to perform during the financial year immediately following the financial year to which the AAPA report relates;
(c) an activity report regarding the functions of the Supervisory Authority under Regulation (EU) No 537/2014 during the financial year to which the AAPA report relates;
(d) a work programme regarding the functions of the Supervisory Authority under Regulation (EU) No 537/2014 that the Supervisory Authority proposes to perform during the financial year immediately following the financial year to which the AAPA report relates;