How to Report on Non-Compliance

NotesVideoQuiz

Auditors should tell directors of any non-compliance immediately

This should happen without delay, and make appropriate reports, as set out below:

THOSE CHARGED WITH GOVERNANCE

  • If the auditors suspect non-compliance with laws and regulations

  • Communicate to audit committee

  • Consider the need for legal advice

SHAREHOLDERS

  • Only if it causes FS to not give a true and fair view or there is a fundamental uncertainty

  • Report in usual way (See reporting section)

REGULATORY AUTHORITIES

  • Auditor decides if there's a responsibility to report to parties outside the entity

NotesVideoQuiz