If, during the performance of his or her duties as auditor for a licensee, an auditor—
(a) becomes aware of any matter which in his or her opinion adversely affects the financial position of the licensee to a material extent; or
(b) discovers evidence of a contravention of section 75, 76 or 79 he or she shall as soon as is practicable, and in any event within 7 days, report it in writing to the Commission and to the licensee.