Section 55A: Obligations to comply with guidelines issued by

55A. Obligations to comply with guidelines issued by Mauritius Institute of Professional Accountants and FIU For the purposes of combatting money laundering and the financing of terrorism, every professional accountant, public accountant and relevant member firm referred to in Part II of the First Schedule to the Financial Intelligence and Anti-Money Laundering Act shall comply with the guidelines issued by the Mauritius Institute of Professional Accountants and FIU. (c) in section 79 – (i) by repealing subsection (1) and replacing it by the following subsection – (1) Where a public interest entity has failed to comply with any financial reporting and accounting standard, code, Code of Corporate Governance or guideline issued under this Act, and with such other financial reporting and accounting standards as may be specified under the relevant enactments, the Council may issue a warning to the public interest entity or serve a notice on the public interest entity for an immediate restatement of its financial statement, or take such remedial action as it may determine. 148 Acts 2020 (ii) in subsection (3) – (A) by inserting, after the words “with the notice referred to in”, the words “, or take any remedial action under,”; (B) by deleting the words “one million rupees” and replacing them by the words “5 million rupees”.