In Article 26 (quality assurance) -

(a) in paragraph 1 -

(i) in point (a) -

(aa) omit "and audit firms";

(bb) for "Article 32(5) of Directive 2006/43/EC" substitute "regulation 3(1)(l) of the Statutory Auditors and Third Country Auditors Regulations 2016";

(ii) in point (b), for "a reviewer" substitute "an individual";

(iii) in point (c) -

(aa) for "a natural person" substitute "an individual";

(bb) for "financial reporting" substitute "accounting";

(b) in paragraph 2 -

(i) in the first subparagraph, for "competent authorities designated under Article 20(1)" substitute "competent authority";

(ii) in the second subparagraph -

(aa) for "statutory auditors and audit firms" substitute "individuals and firms";

(bb) for point (a), substitute -