OBS_VALUE: The Auditing Activities Oversight Board (licensing authority) shall immediately deliver the decision to issue or refuse to issue an activity licence to the audit firm or sworn auditor applying for the activity licence. Additionally, the Auditing Activities Oversight Board shall notify the person applying for the qualification of a sworn auditor of award of the qualification or refusal to award the qualification within five working days as of the date of making the decision.Under general rules of administrative law, written reasoning shall be provided for the issue of a written administrative act and refusal to issue an alleviating administrative act. 