By way of derogation from Regulation 109, the competent authority with supervisory and other functions may, in exceptional cases, allow a statutory auditor or audit firm to transfer audit working papers and other documents directly to a third-country competent authority, provided that:
(a) an investigation has been initiated by that competent authority in the third country concerned;
(b) the transfer does not conflict with the obligations with which statutory auditors and audit firms are required to comply in relation to the transfer of audit working papers and other documents to the competent authorities;
(c) there are working arrangements with the third-country competent authority of a reciprocal nature that allow the competent authority with supervisory and other functions direct access to audit working papers and other documents of audit entities in the third country concerned;
(d) the third-country competent authority informs in advance the competent authority with supervisor