Loan provided to directors -when given initially it was below 10% of relevant net assets – net assets reduced subsequently – is this a reportable loan by auditor?

If a loan provided by a company to a director or his/her connected persons was not 10% or more of the relevant net assets at the time the loan was given but subsequently breaches this rule due to a reduction in net assets, is this loan reportable by the auditor? No this is not reportable […]