Section 24
Amendment of section 31zd
of Securities Commission (Amendment) Act 2011
Amendment ActIn forceProvision 24 of 34
Section 24
Section 31zd of the principal Act is amended by substituting for subsection (2) the following subsection:
“(2) Notwithstanding sections 31v and 31w, the Audit
Oversight Board may, with regard to a recognised auditor,
Securities Commission (Amendment)
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request for assistance from a relevant foreign authority to conduct inspection or inquire into the conduct of a recognised auditor to assess—
(a)
the degree of compliance with auditing and ethical standards adopted by the relevant foreign authority by the recognised auditor; and
(b)
the quality of audit reports prepared by the recognised auditor relating to audited financial statements.”.
Amendment of section 126