Contents of Section
|
Chapter: | 588
 | Title: | FINANCIAL REPORTING COUNCIL ORDINANCE | Gazette Number: | L.N. 104 of 2007 |
| Section: | 25 | Heading: | Powers to require production of records and documents relating to auditing irregularity | Version Date: | 16/07/2007 |
Division 2¡XPowers for the purpose of investigation
(1) The investigator may, in writing, require a person who is, or was at the material time, the auditor of the listed entity, or of a relevant undertaking of the entity, to produce, within the time and at the place specified in the requirement, any record or document specified in the requirement if the investigator has reasonable cause to believe, and certifies in writing that it has reasonable cause to believe, that¡X
- (a) the person is in possession of records or documents that¡X
- (i) may be in the nature of audit working papers; and
(ii) relate to the audit of the accounts of the entity or undertaking; and
- (i) relates to the audit of the accounts of the entity or undertaking; and
(ii) is relevant to the auditing irregularity or to the question whether or not there is such an irregularity.
- (a) where the listed entity is a listed corporation, the listed corporation;
(b) where the listed entity is a listed collective investment scheme, a person who is, or was at the material time, a responsible person of the listed collective investment scheme; or
(c) a relevant undertaking of the listed entity,
(3) The conditions are¡X
- (a) the listed corporation, person or relevant undertaking is in possession of records or documents that relate to the audit of the accounts of the listed entity or undertaking; and
(b) the record or document specified in the requirement¡X
- (i) relates to the audit of the accounts of the entity or undertaking; and
(ii) is relevant to the auditing irregularity or to the question whether or not there is such an irregularity.
- (a) the institution is in possession of records or documents that relate to the audit of the accounts of the listed entity, or of a relevant undertaking of the entity; and
(b) the record or document specified in the requirement¡X
- (i) relates to the audit of the accounts of the entity or undertaking; and
(ii) is relevant to the auditing irregularity or to the question whether or not there is such an irregularity.
- (a) the person¡X
- (i) has directly or indirectly dealt with, or has had dealings directly or indirectly with, the listed entity or a relevant undertaking of the entity; or
(ii) is otherwise in possession of records or documents that relate to the audit of the accounts of the entity or undertaking;
- (i) is not, or was not at the material time, the auditor referred to in subsection (1);
(ii) is not the listed corporation, responsible person or relevant undertaking referred to in subsection (2); and
(iii) is not an authorized institution; and
- (i) relates to the audit of the accounts of the entity or undertaking;
(ii) is relevant to the auditing irregularity or to the question whether or not there is such an irregularity; and
(iii) cannot be obtained by the investigator under subsection (1), (2) or (4).