1643. (1) Section 1496 shall apply in relation to the quality assurance system referred to in section 1642(2) in the same manner as it applies in relation to the quality assurance system referred to in section 1495(2) subject to the following modifications:

(a) the reference in subsection (1)(d) and subsection (2)(a) to appropriate professional education and relevant experience in statutory audit and financial reporting shall be construed as a reference to appropriate professional education and relevant experience in sustainability reporting and the assurance of sustainability reporting or other sustainability-related services;

(b) the following shall be substituted for paragraph (f) of subsection (1):

“(f) the scope of quality assurance reviews of assurance of sustainability reporting, supported by adequate testing of selected assurance files, includes, except where otherwise agreed with the Supervisory Authority, an assessment of –

(i) compliance with applicable assurance of sustainability standards and independence requirements,

(ii) the quantity and quality of resources spent,

(iii) the fees charged in respect of the assurance of sustainability reporting, and

(iv) the internal quality control system of the audit firm,”;

(c) the reference in subsection (1)(h) to section 1497 shall be construed as a reference to section 1644;

(d) the following shall be substituted for subsection (3):

“(3) For the purpose of subsection (1)(k), a recognised accountancy body, when undertaking quality assurance reviews of the assurance of sustainability reporting of the consolidated sustainability reporting of medium or small companies, shall take account of the fact that assurance standards adopted in accordance with Article 26a of the Audit Directive are designed to be applied in a manner that is proportionate to the scale and complexity of the business of the undertaking.”;

(e) any other necessary modifications.

(2) Until 31 December 2025, persons who carry out quality assurance reviews relating to the assurance of sustainability reporting shall be exempted from the requirement in section 1496(2)(a) as applied by subsection (1) to have relevant experience in sustainability reporting and the assurance of sustainability reporting or other sustainability-related services.]