SCHEDULES
SCHEDULE 14 Auditors: Appointment, Tenure, Qualifications and Remuneration
Offences of failing to comply with paragraph 14
15
(1)
If a person ceasing to hold office as auditor fails to comply with paragraph 14 above, he is guilty of an offence and liable—
(a)
on conviction on indictment, to a fine; and
(b)
on summary conviction, to a fine not exceeding the statutory maximum.
(2)
If a society or branch makes default in complying with paragraph 14 above, it is guilty of an offence and liable—
(a)
on conviction on indictment, to a fine, and
(b)
on summary conviction, to a fine not exceeding the statutory maximum and in the case of a continuing offence, to an additional fine not exceeding one-tenth of the statutory maximum for every day during which the offence continues.