Commonwealth Consolidated Acts

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Annual statements by authorised audit company

             (1)  A company that is an authorised audit company must, within one month after the end of:

                     (a)  the period of 12 months beginning on the day on which the company became registered as an authorised audit company; and

                     (b)  each subsequent period of 12 months;

lodge with ASIC a statement in respect of that period.

          (1A)  A statement under subsection (1):

                     (a)  must contain such information as is prescribed in the regulations; and

                     (b)  must be in the prescribed form.

             (2)  ASIC may, on the application of an authorised audit company made before the end of the period for lodging a statement under subsection (1), extend, or further extend, that period.

             (3)  An offence based on subsection (1) is an offence of strict liability.

Note:          For strict liability , see section 6.1 of the Criminal Code .

             (4)  A director of a company must take all reasonable steps to comply with, or to secure compliance with, subsection (1).

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