(1) In the case of a partnership to which this Part applies, the partners, including a limited partner, if any, shall appoint auditors who shall make a report on the accounts examined by them and on every balance sheet and profit and loss account, and all group accounts drawn up pursuant to these Regulations by the partners during their tenure of office as auditors.
(2) A person shall not be qualified for appointment as an auditor under paragraph (1) unless he is qualified under the Companies Acts for appointment as auditor of a company.
(3) In the case of a partnership to which this Part applies the reference in section 15, section 18 (3) (b) and section 19 (2) (c) and (d) of the 1986 Act to an auditors report under section 163 of the Principal Act and the reference in Regulation 38 of the 1992 Group Accounts Regulations to an auditor's report under section 193 of the 1990 Act shall be construed as references to the auditor's report referred to in paragraph (1).