111.1(1) A director or an officer of a corporation shall without delay notify the auditor of any error or misstatement of which the director or officer becomes aware in a financial statement that the auditor or a former auditor has reported on.

111.1(2)An auditor or former auditor of a corporation who is notified or becomes aware of an error or misstatement in a financial statement on which they have reported, if in their opinion the error or misstatement is material, shall inform each director accordingly.

111.1(3)When under subsection (2) the auditor or former auditor informs the directors of an error or misstatement in a financial statement, the directors shall