Section 406 CAMA 2020
Section 406 Companies and Allied Matters Act is about Improper influence on conduct of audit. It is under Chapter 15 (Audit) of the Act.
(1) It shall be an offence for any officer, insider, director of a company, or any other person acting under the direction of such officer, insider or director, to take any action to influence, coerce, manipulate or mislead any external auditor engaged in the performance of an audit of the financial statements of that company for the purpose of rendering such financial statements misleading.
(2) A person who commits an offence under subsection (1) is liable on conviction to a penalty as the Commission shall specify in its regulations.
(3) For the purposes of this Act, “Insider” shall have the meaning given to it under the Investments and Securities Act, or any subsequent amendments thereto.
