Section 45: Material irregularity.

(1) Where, during the course of the audit of an entity, a professional accountant is satisfied or has reason to believe, that a material irregularity has taken or is taking place, he shall, without delay-
(a) notify in writing the Chief Executive Officer of the public interest entity and all the members of the Board of the entity of the irregularity, giving particulars of the irregularity; and
(b) request every person referred to in sub-section (1) (a) of this section, either individually or collectively, to take such action as the professional accountant may deem necessary.
(2) The professional accountant shall, within 30 days of the issuance of notice referred to under sub-section (1) of this section, notify the Council of the material irregularity referred to in sub-section (1) of this section, together with any other relevant information.