103. Co-operation with auditors

Past version: effective up to 04/07/2012
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(1) An Authorised Firm or an Authorised Market Institution, and any director, officer or employee of an Authorised Firm or an Authorised Market Institution, shall not knowingly or recklessly make to the Authorised Firm or an Authorised Market Institution's auditor a statement (whether written or oral) which:
(a) conveys or purports to convey any information or explanation which the auditor requires, or is entitled to require, as auditor of the Authorised Firm or the Authorised Market Institution; and
(b) is either or both:
(i) false, misleading or deceptive in a material particular; or
(ii) is such that it omits information where the omission of such information is likely to mislead or deceive the auditor.
(2) An Authorised Firm or an Authorised Market Institution, or any director, officer or employee of an Authorised Firm or an Authorised Firm or an Authorised Market Institution, or any person acting under the direction or authority of such an Authorised Firm or an Authorised Market Institution or director, officer or employee, shall not without reasonable excuse engage in conduct, including without limitation the:
(a) destruction or concealment of documents;
(b) coercion, manipulation, misleading, or influencing of the auditor;
(c) failure to provide access to information or documents specified by the auditor; or
(d) failure to give any information or explanation which the person is able to give;
where the Authorised Firm or the Authorised Market Institution, director, officer, employee or other person knows or ought to know that such conduct could, if successful:
(e) obstruct the auditor in the performance of his duties under this Chapter; or
(f) result in the rendering of the accounts of the Authorised Firm or the Authorised Market Institution or the auditor's report materially misleading.