What is one duty of the outgoing auditor when removed under the Companies Act 2006?

The duty of the outgoing auditor when removed under the Companies Act 2006 includes preparing a statement of circumstances. This requirement is vital as the outgoing auditor must provide an account of any circumstances that they believe should be brought to the attention of the company’s shareholders or members. This statement serves to ensure transparency regarding the reasons for their removal and any issues that may have arisen during their tenure.

The other options do not align with the responsibilities established under the Companies Act. For example, issuing a new engagement letter is typically the responsibility of the incoming auditor, not the outgoing auditor. Similarly, attending the audit planning meeting is part of the process for the new auditor, while negotiating new audit fees pertains to discussions that would be made between the incoming auditor and the company. Therefore, the necessity for the outgoing auditor to prepare a statement of circumstances stands as the key responsibility in this situation.