Section 43: Sanctions on licensed auditors

43. Sanctions on licensed auditors (1) The Council may cancel or suspend a licence issued to an auditor under section 33 where the auditor— (a) has obtained the licence by fraud or misrepresentation; (b) no longer satisfies the requirements of section 33; (c) has acted in breach of this Act or any rule, code, guidelines and standards relating to auditing issued by the Council; (2) Notwithstanding subsection (1), where a licensed auditor commits a breach of this Act or any rule, code, guidelines or standards relating to auditing issued by the Council, the Council may issue a warning to the licensed auditor. [Issue 9] F9 – 20 Revised Laws of Mauritius (3) Where, in the opinion of the Chief Executive Officer, a licensed auditor has not conducted the audit of an entity in compliance with the International Standards on Auditing, the Council shall report the matter to the entity. [S. 43 amended by s. 18 (b) of Act 27 of 2013 w.e.f. 21 December 2013.] PART IV – THE MAURITIUS INSTITUTE OF PROFESSIONAL ACCOUNTANTS