Securities and Futures Act 2001 · 2020 Revised Edition · Part 3A · Approved Holding Companies
81ZHA. Auditors of approved holding companies to report certain matters and irregularities to Authority
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If an auditor of an approved holding company, in the course of performing the auditor’s duties mentioned in section 81ZH(4) or (5), becomes aware of any matter or irregularity mentioned in the following paragraphs, the auditor must immediately send to the Authority a written report of that matter or irregularity:
auditor
“auditor” means a public accountant who is registered or deemed to be registered under the Accountants Act 2004 and, in Division 1 of Part 13, when used in relation to an entity not being a company, includes —(a)a person who is duly registered, licensed, approved or otherwise authorised to practise as an auditor (such practice to include the issue of any opinion, report or other document on the audit of any financial statement) —(i)under the laws of the place where the entity is formed or constituted; or(ii)under the laws of the place of his or her practice, if the auditing standards that are or will be applied to the financial statements of the entity are —(A)auditing standards commonly applied in that place; or(B)international auditing standards (by whatever name called); or(b)such other person as the Authority may approve in any particular case to be an auditor for such entity;
any matter that, in the auditor’s opinion, adversely affects or may adversely affect the financial position of the approved holding company to a material extent;
any matter that, in the auditor’s opinion, constitutes or may constitute a breach of any provision of this Act or an offence involving fraud or dishonesty;
any irregularity that has or may have a material effect upon the accounts of the approved holding company, including any irregularity that affects or jeopardises, or may affect or jeopardise, the funds or property of investors.
An auditor of an approved holding company is not, in the absence of malice on the auditor’s part, liable to any action for defamation at the suit of any person in respect of any statement made in the auditor’s report under subsection (1).
approved holding company
“approved holding company” means a corporation that is approved by the Authority under section 81W as an approved holding company;
Subsection (2) does not restrict or affect any right, privilege or immunity that the auditor of an approved holding company may have, apart from this section, as a defendant in an action for defamation.