SCHEDULE 5 AUDITORS
Statement by auditor ceasing to hold office
19
1
If a person ceasing to hold office as auditor fails to comply with paragraph 18 he is guilty of an offence and liable—
a
on conviction on indictment, to a fine;
b
on summary conviction, to a fine not exceeding the statutory maximum.
2
In proceedings for an offence under sub-paragraph (1), it is a defence for the person charged to show that he took all reasonable steps and exercised all due diligence to avoid the commission of the offence.