How long do management and the audit committee have to act if the independent auditor reports possible illegal acts to them?

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21-07-2017
Business

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How long do management and the audit committee have to act if the independent auditor reports possible illegal acts to them?

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Erudite1 Erudite1 · Answer 1 · 2017-07-30T20:52:48+02:00

Erudite1 Erudite1

30-07-2017

The management and the audit committee have ONE BUSINESS DAY to act if the independent auditor report possible illegal acts on them. During the one business day, they should be able to provide necessary documents that stand as evidence that they are not involve in illegal acts. Failure to do this, will make the law to follow due course about such acts.

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