(1) An authorised investment business firm (other than a certified person or a person who does not provide investment business services) which is constituted as an unincorporated body of persons or as a sole trader shall be required to appoint an auditor to audit and make a report on its accounts on an annual basis and a person shall not be qualified for appointment as an auditor of an authorised investment business firm which is constituted as an unincorporated body of persons or sole trader unless he meets the requirements of, and is not excluded by, the provisions of the Companies Acts.
(a) A supervisory authority may set out requirements in respect of the accounts and audit of an authorised investment business firm which is constituted as an unincorporated body of persons or as a sole trader including requirements which are analogous to those set out in the Companies Acts and may impose duties or obligations on the auditor or on the authorised investment business firm concerned
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