Section 82

on an annual basis, appoint an auditor who is a public accountant under the Accountants Act 2004; and

if for any reason its auditor ceases to be its auditor, appoint another auditor who is a public accountant under the Accountants Act 2004 as soon as practicable after the cessation.

if the designated credit bureau fails to appoint an auditor; or

if the Registrar considers it desirable that another auditor should act with the auditor appointed under subsection (1),and may at any time fix the remuneration to be paid by the designated credit bureau to the auditor the Registrar appoints.

to carry out, for the year in respect of which the auditor is appointed, an audit of the designated credit bureau’s accounts; and

to make a report on the designated credit bureau’s financial statements or consolidated financial statements in accordance with section 207 of the Companies Act 1967.

a duty to submit any additional information in relation to the audit that the Registrar considers necessary;

a duty to enlarge or extend the scope of the audit of the designated credit bureau’s business and affairs under this Part;

a duty to carry out any other examination, or establish any procedure, in relation to the audit in any particular case;

a duty to make a report on any of the matters mentioned in paragraphs (b) and (c).

the remuneration the Registrar has fixed under subsection (3); and

the discharge of all or any of the additional duties of the auditor imposed under subsection (5).

to remove the auditor; and

to appoint another auditor who is a public accountant under the Accountants Act 2004.

a copy of the auditor’s report made under subsection (4)(b), attached to the designated credit bureau’s financial statements or consolidated financial statements;

a copy of any report made under subsection (5)(d).

there has been a serious breach or non-observance of the provisions of this Part;

a criminal offence involving fraud or dishonesty has been committed;

losses have been incurred that reduce the capital of the designated credit bureau by 50% or more;

serious irregularities have occurred, including irregularities that compromise the confidentiality, security or integrity of any data received, used or disclosed by the designated credit bureau; or

the auditor is unable to confirm that the claims of creditors of the designated credit bureau are covered by the assets of the designated credit bureau,the auditor must immediately report the matter to the Registrar.

the auditor’s or employee’s knowledge or suspicion of any of the matters mentioned in subsection (9); or

any information or other matter on which that knowledge or suspicion is based,the disclosure is not a breach of any restriction upon the disclosure imposed by any law, contract or rules of professional conduct, and the auditor or employee is not liable for any loss arising out of the disclosure or any act or omission in consequence of the disclosure.