If in the course of the performance of an external auditor's duties an external auditor is satisfied that —
(a) there has been a material breach of or non-compliance with the provisions of this Act or any Regulations, Notice, or Order made or prudential standards or directions issued under this Act;
(b) there is evidence that a criminal offence involving fraud or other dishonesty may have been committed;
© losses have been incurred which reduce the paid up capital or assigned capital, as the case may be, of the licensed financial institution or licensed financial holding company by 25% or more;
(d) material irregularities have occurred, including but not limited to —
(i) any change in accounting policy or the misrepresentation of the financial position of the licensed financial institution or licensed financial holding company,
(ii) evidence that data reported to the Central Bank or data provided to the auditor is not valid,
(iii) transactions that have a serious impact on the financial position of the licensed financial institution or licensed financial holding company,
(iv) transactions giving rise to significant risks that have the potential to jeopardise the viability of the licensed financial institution or licensed financial holding company,
(v) any other transactions or conditions which in the opinion of the external auditor could affect the interest of depositors;
© the claims of depositors covered by the assets cannot be confirmed, the external auditor shall immediately report the matter to the licensed financial institution or licensed financial holding company and the Central Bank.