Part 1: The Bank of England Section 9: Audit
This section inserts new section 7ZA into the 1998 Act. This describes the extent to which the Comptroller and Auditor General is to be involved with the audit of the Bank. The Comptroller and Auditor General will be consulted by the Bank about the appointment of the Bank’s external auditors. The auditor or auditors appointed by the Bank will then consult the Comptroller and Auditor General on the way in which the audit is planned. If an audit plan is produced, the Comptroller and Auditor General must be consulted not only on the audit plan itself, but also on any material revision of the plan.
	The Comptroller and Auditor General will have the right to see information reasonably required relating to the audit of the Bank’s accounts which is held by the Bank, and to attend any meetings of the Audit and Risk Committee of the Bank which deal with any aspect of the audit of the Bank’s accounts.