42. Amendment of section 31p
Feedback & supportSection 31p of the principal Act is amended—
(a)
in the shoulder note, by deleting the words “, renew registration”;
(b)
in subsection (1)—
(i)
by deleting the words “or the renewal of registration of a registered auditor”; and
(ii)
by deleting the words “or the registered auditor”;
and
(c)
by substituting for subsection (2) the following subsection:
“(2) Where the Audit Oversight Board refuses—
(a)
the registration of an applicant as a registered auditor; or
(b)
to grant recognition of an applicant as a recognized auditor, the Audit Oversight Board shall give the applicant an opportunity to be heard by serving a written notice on the applicant stating the grounds for such refusal.”.