| 9. | In order to investigate and determine whether to issue a Decision Notice, or monitor compliance with Decision Notices, Executive Counsel may: |
| (a) | give notice to require any Statutory Auditor or Statutory Audit Firm to provide information it holds which relates to work undertaken in respect of the Statutory Audit of, or the performance of third country audit functions in respect of, the annual accounts or the consolidated accounts of any audited person; |
| (b) | request any specialist advice; |
| (c) | request experts to carry out verifications or investigations; |
| (d) | require any Statutory Auditor or Statutory Audit Firm to co-operate with investigations, including attending for interview; |
| (e) | request or receive from any other person any information which may be material to an investigation. |
| 10. | In the course of any investigation in relation to the Statutory Audit of a Public Interest Entity Executive Counsel may: |
| (a) | enter premises upon notice and at any reasonable time to carry out on-site inspections of statutory audit work or audit firms, subject to: |
| (i) | providing notice in writing to the occupier of such premises which sets out: |
| (A) | why entry is necessary; |
| (B) | the name of the audited person; |
| (C) | the accounting years in question; |
| (D) | the risk of committing a statutory offence contrary to paragraph 5 Schedule 2 SATCAR 2016. |
| (ii) | Providing at least 2 working days between the date of receipt of the notice and the date of entry. |
| (b) | give notice to any person specified below to provide information relating to the statutory audit of the annual accounts or the consolidated accounts of any Public Interest Entity: |
| (i) | any person involved in the activities of Statutory Auditor (including any person to whom a Statutory Auditor has outsourced such activities); |
| (ii) | any Public Interest Entity; |
| (iii) | any subsidiary or parent of the Public Interest Entity or any other subsidiary of a company of which a Public Interest Entity is a subsidiary; |
| (iv) | any person otherwise having a connection to a Statutory Auditor carrying out the Statutory Audit of the annual accounts or consolidated accounts of a Public Interest Entity. |
| 11. | Unless Rule 74 applies, when the investigation has been concluded, Executive Counsel shall provide the Respondent with the Initial Investigation Report within 14 days and any relevant accompanying papers. |
| 12. | On receipt of the Initial Investigation Report, the Respondent shall have 56 days to make representations or such other period as may be agreed by Executive Counsel. |
| 13. | Executive Counsel may take into account a failure to make representations when determining any Enforcement Action. |
| 14. | Executive Counsel shall consider any representations from the Respondent before finalising the Investigation Report within 56 days of receipt of the representations or such other period of time as Executive Counsel considers appropriate. |
| 15. | At any stage of the investigation or following completion of the investigation, before or after receipt of any representations from the Respondent, Executive Counsel may: |
| (a) | seek clarification or further information from the Respondent or any other person in respect of the Allegation or investigation; |
| (b) | seek advice from the Case Management Committee; |
| (c) | agree with the Respondent that the case should be referred directly for a Hearing under Part 5 of these Rules without first passing through the Enforcement Committee stage set out in Part 4 of these Rules. |
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