Section 16Part 0 —
Delegation
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Subject to subsection (2), the Authority may, on such terms as may be approved from time to time by the Board, delegate any of its functions under this Law to any person as the Board considers necessary for the better exercise of the Authority’s functions under this Law.
The Authority shall not delegate any of its functions to a person pursuant to subsection (1) unless the person has —
(a) experience in —
(i) regulating public accountants and in overseeing the audit of financial statements of publicly traded companies;
(ii) assisting regulatory authorities in their supervision and investigation of public accountants and their professional activities; and
(iii) assessing accounting and assurance standards of regulatory oversight bodies; and
(b) adequate knowledge in areas relevant to statutory audit.
experience in —
(i) regulating public accountants and in overseeing the audit of financial statements of publicly traded companies;
(ii) assisting regulatory authorities in their supervision and investigation of public accountants and their professional activities; and
(iii) assessing accounting and assurance standards of regulatory oversight bodies; and
regulating public accountants and in overseeing the audit of financial statements of publicly traded companies;
assisting regulatory authorities in their supervision and investigation of public accountants and their professional activities; and
assessing accounting and assurance standards of regulatory oversight bodies; and
adequate knowledge in areas relevant to statutory audit.