Guidance: Statutory Audit Services Order 2014

• The Statutory Audit Services Order 2014 was officially revoked by the Competition and Markets Authority (CMA).
• The revocation became effective on November 4, 2026, removing the order from the register of remedies in force.
• The order, established under the Enterprise Act 2002, aimed to increase tendering and accountability for statutory audit services.
• It specifically applied to companies listed on the FTSE 100 and FTSE 250 indices, also strengthening auditor accountability to audit committees.

With its revocation, the Statutory Audit Services Order 2014 is no longer listed on the register of remedies in force, effectively ceasing its regulatory impact.

The Competition and Markets Authority (CMA) has officially concluded its review of the Statutory Audit Services Order 2014, leading to its complete revocation. This significant regulatory change took effect on November 4, 2026, marking the end of specific requirements for certain large companies concerning their audit arrangements. The CMA's final decision on this matter was published on the same date, formalizing the order's removal from the active register of remedies.

This action signifies that the provisions originally established by the 2014 order are no longer legally binding or in force. The revocation means that the framework governing aspects of statutory audit services, which had been in place for over a decade, has now been dismantled following a comprehensive assessment by the UK's primary competition and consumer authority. This development is a key outcome of the CMA's ongoing oversight of market dynamics and regulatory effectiveness.

The now-revoked Statutory Audit Services Order 2014 emerged directly from a comprehensive market investigation conducted by the CMA into statutory audit services. This regulatory instrument, sometimes referred to by its full title, the Statutory Audit Services for Large Companies Market Investigation Order 2014, was formally established under the market investigations provisions outlined in the Enterprise Act 2002, providing its legal foundation and authority. Its primary objective was to foster greater competition and accountability within the audit sector.

Specifically, the order mandated more frequent tendering processes for statutory audit services and aimed to enhance overall accountability. A key component of its requirements was directed at companies listed on both the FTSE 100 and FTSE 250 indices, obliging them to undertake certain actions related to their audit engagements. Furthermore, the order incorporated specific measures designed to reinforce the oversight and accountability of auditors directly to a company’s audit committee, thereby strengthening corporate governance in this critical area and ensuring a more robust audit environment.

With its revocation, the Statutory Audit Services Order 2014 is no longer listed on the register of remedies in force, effectively ceasing its regulatory impact. This means that the specific obligations it imposed, such as those concerning tendering frequency and auditor accountability mechanisms for FTSE 100 and FTSE 250 companies, are no longer legally enforceable. The decision to revoke follows the CMA's thorough review, which culminated in the final decision published in November 2026, indicating a deliberate and considered withdrawal of the remedy.

The removal of this order represents a notable development in the regulatory landscape for statutory audit services in the UK. It concludes a chapter initiated by the CMA's market investigation, which sought to address identified issues within the audit market. The associated documents, including the "Revocation Order PDF" and the "Statutory Audit Services for Large Companies Market Investigation Order 2014 (revoked in 2026) PDF," along with an "Explanatory note PDF," provide further details on the process and the order's original scope, though some of these files may not be suitable for users of assistive technology.

Source: Original reporting via GOV.UK guidance.