Sch 7 para 23
(1) A public benefit corporation must have an auditor. (2) It is for the council of governors to appoint or remove the auditor at a general meeting of the council . (3) An auditor may be an individual or a firm — (a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (c) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (4) A person appointed as auditor must be— (a) eligible for appointment as a statutory auditor (see Part 42 of the Companies Act 2006), (aa) eligible for appointment as a local auditor (see Part 4 of the Local Audit and Accountability Act 2014), or (b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (c) a member of a body of accountants approved by the regulator for the purposes of this paragraph. (5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (6) The corporation must establish a committee of non-executive directors as an audit committee to perform such monitoring, reviewing and other functions as are appropriate. (7) In this paragraph— ... “firm” has the same meaning as in section 1261(1) of the Companies Act 2006 .