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IAASA issues notice under Section 931(2), Companies Act 2014

IAASA has given written notice that, in accordance with Section 931(2) of the Companies Act 2014, the ACCA is directed to:

1.     update application forms for both firms and individuals to ensure the forms collect all data required by the Companies Act 2014 in connection with the application for approval;

2.     implement controls to ensure that all data reported to IAASA is accurate; and 

3.     provide written evidence to IAASA of compliance with the notice.

ACCA must comply with this notice within three months of the date of this notice.  Failure to comply with a Section 931 notice may result in IAASA seeking an order from the High Court compelling the relevant party to take the action required by the notice.