Corporations Regulations 2001

CHAPTER 9 - MISCELLANEOUS  

PART 9.2 - REGISTRATION OF AUDITORS  

Division 2 - Registration  

REGULATION 9.2.01  

9.2.01   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.