Commonwealth Consolidated Acts

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Offences by members of audit firm

  (1)   This Part applies to an audit firm as if it were a person, but with the changes set out in this section.

  (2)   An obligation that would otherwise be imposed on the firm by a provision of this Part   is imposed on each member of the firm instead, but may be discharged by any of the members.

  (3)   An offence based on a provision of this Part that would otherwise be committed by the audit firm is taken to have been committed by each member of the firm.

  (4)   A member of the firm does not commit an offence because of subsection   (3) if the member:

  (a)   does not know of the circumstances that constitute the contravention of the provision concerned; or

  (b)   knows of those circumstances but takes all reasonable steps to correct the contravention as soon as possible after the member becomes aware of those circumstances.

Note:   A defendant bears an evidential burden in relation to the matters in subsection   (4)--see subsection   13.3(3) of the Criminal Code .


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