(1) The competent authority is responsible for -

(a) the public oversight of statutory auditors under these Regulations;

(b) carrying out the tasks provided for in the Audit Regulation and for ensuring that the provisions of that Regulation are applied;

(c) the determination of technical standards (which must meet the requirements of Schedule 1) and of other standards (which must meet the requirements of regulation 4(3) and that Schedule) on professional ethics and internal quality control of statutory auditors and statutory audit work;

(d) the determination of the manner in which the standards determined under sub-paragraph (c) are to be applied in practice;

(e) the imposition of the standards determined under sub-paragraph (c) (including provision for securing compliance with those standards);

(f) the determination of criteria for the purpose of determining whether persons are eligible for appointment as statutory auditors;

(g) the application of the criteria determined under sub-paragraph (f) to determine whether persons are eligible for appointment as statutory auditors;