Commonwealth Consolidated Acts

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CORPORATIONS ACT 2001 - SECT 990D

Ineligible person or firm must not consent to act or disqualify themselves etc.

             (1)  A person or firm, while ineligible to act as auditor of the licensee, must not:

                     (a)  consent to be appointed as auditor of the licensee; or

                     (b)  act as auditor of the licensee; or

                     (c)  prepare a report that an auditor of the licensee is to prepare under this Part.

Note:          Failure to comply with this subsection is an offence (see subsection 1311(1)).

             (2)  A person must not:

                     (a)  if the person has been appointed auditor of the licensee--disqualify himself or herself, while the appointment continues, from acting as auditor of the licensee; or

                     (b)  if the person is a member of a firm that has been appointed auditor of the licensee--disqualify the firm, while the appointment continues, from acting as auditor of the licensee.

Note:          Failure to comply with this subsection is an offence (see subsection 1311(1)).



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