(1) The senior statutory auditor means the individual identified by the firm as senior statutory auditor in relation to the audit in accordance with the standards or guidance mentioned in section 504(1) of the Companies Act 2006.
(2) The person identified as senior statutory auditor must be eligible for appointment as auditor of the society in question in accordance with -
(a) in the case of a friendly society subject to special requirements, Chapter 2 of Part 42 of the Companies Act 2006;
(b) in any other case, Schedule 14 to this Act.
(3) The senior statutory auditor is not, by reason of being named or identified as senior statutory auditor or by reason of his having signed the auditor's report, subject to any civil liability to which he would not otherwise be subject.