- (iii) require the public accountant to take other steps as may be specified by the Oversight Committee to improve the practice of the public accountant or to give such undertaking as the Oversight Committee thinks fit;
- (iv) make such other order as the Oversight Committee thinks necessary or expedient; or
- (b) if it is of the opinion that it is contrary to the public interest or the interest of the profession of public accountancy for the public accountant to continue in practice, or if the public accountant has failed to comply with any order or requirement of the Oversight Committee under paragraph (a)—
- (i) refuse to renew the registration of the public accountant concerned;
- (ii) suspend the registration of the public accountant concerned for a period not exceeding 2 years; or
- (iii) cancel the registration of the public accountant concerned.
(2) The Oversight Committee shall not take any action under subsection (1)(b) unless it has given the public accountant concerned an opportunity to show cause against the action proposed to be taken by the Oversight Committee.
(3) Where the Oversight Committee has made an order referred to in subsection (1)(a), the Oversight Committee may, if it thinks fit having regard to any change in circumstances, by another order revoke the original order or revoke or vary any of the conditions imposed by the original order.
(4) Where the Oversight Committee has, under subsection (3), revoked the order referred to in subsection (1)(a) or revoked or varied any of the conditions imposed by such order, the Registrar shall immediately serve on the public accountant concerned a notice of the revocation or variation.
(5) A decision of the Oversight Committee under subsection (1)(b) shall not take effect—
- (a) until the expiration of one month from the date on which the decision has been communicated to the public accountant concerned; or
