Commonwealth Consolidated Regulations

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Practical experience in auditing (Act s 1280(2))

                   For subparagraph 1280(2)(b)(ii) of the Act, each of the following is prescribed practical experience in auditing:

                     (a)  during the 5 years immediately before the date of the application, at least 3 000 hours work in auditing under the direction of a registered company auditor, including:

                              (i)  appraising the operations of companies and forming opinions on the matters specified in sections 307, 308 and 309 of the Act; and

                             (ii)  at least 750 hours spent supervising audits of companies;

                     (b)  practical experience that, in the opinion of ASIC, is equivalent to the practical experience mentioned in paragraph (a);

                     (c)  work of the kind and duration mentioned in paragraph (a) that was done under previous laws corresponding to sections 307, 308 and 309 of the Act.

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