(1) The members of the Council of Lloyd's must obtain a written auditor’s report on the aggregate accounts.

(2) The auditor’s report must include -

(a) a statement that the subject of the review is the aggregate accounts which are an accumulation of the syndicates’ annual accounts prepared in accordance with these Regulations,

(b) a description of the aggregate accounts that are the subject of the review (including the period covered by those accounts),

(c) a description of the financial reporting framework that has been applied in the preparation of those accounts,

(d) a description of the scope of the review identifying the standards in accordance with which the review was conducted, and

(e) a clear statement as to whether, in the auditor’s opinion, the aggregate accounts have been properly prepared in accordance with the requirements of these Regulations, and whether those accounts are correctly aggregated.

(3) The auditor must in the auditor’s report -

(a) state whether, in the auditor’s opinion, based on the work undertaken in the course of the audit -

(i) the information given in the annual report of the Council of Lloyd’s for the financial year for which the aggregate accounts are prepared is consistent with those accounts, and