Accountants

Support for accountants

What has changed

The biggest change is in supervision. The Mauritius Institute of Professional Accountants gains inspection, direction and enforcement powers under new sections 55B to 55D of the Financial Reporting Act. The activities that trigger the duties are unchanged.

Inspections

The Institute can inspect at any time, take records and check whether you carry out covered activities. Obstructing an inspection or ignoring a direction is an offence.

Records

Destroying or falsifying anything relevant to an inspection or investigation is a more serious offence.

Directions

They can require corrective action, the removal of a partner or employee, or periodic reports.

In practice

Your client files need to be inspection-ready at all times.

How JasperX helps

We prepare the client due diligence file for each client, with what we checked, what we found and what we recommend, and the supporting records kept with it. The decision stays with you.

This is for information only and is not legal advice. Check when each provision takes effect.

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