Corporations Act 2001

CHAPTER 2M - FINANCIAL REPORTS, SUSTAINABILITY REPORTS AND AUDIT  

PART 2M.4 - APPOINTMENT AND REMOVAL OF AUDITORS  

Division 6 - Appointment, removal and fees of auditors for companies  

Note: This Division does not apply in relation to a CCIV. Instead, section 1232R applies a modified version of Division 7 to a retail CCIV.

Subdivision A - Appointment of company auditors  

SECTION 328A   AUDITOR ' S CONSENT TO APPOINTMENT  

328A(1)    
A company, the directors of a company or the responsible entity of a registered scheme must not appoint an individual, firm or company as auditor of the company unless that individual, firm or company:

(a)    has consented, before the appointment, to act as auditor; and

(b)    has not withdrawn that consent before the appointment is made.

For the purposes of this section, a consent, or the withdrawal of a consent, must be given by written notice to the company, the directors or the responsible entity of the scheme.

328A(2)    
A notice under subsection (1) given by a firm must be signed by a member of the firm who is a registered company auditor both:

(a)    in the firm name; and

(b)    in his or her own name.

328A(3)    
A notice under subsection (1) given by a company must be signed by a director or senior manager of the company both:

(a)    in the company ' s name; and

(b)    in his or her own name.

328A(4)    
If a company, the directors of a company or the responsible entity of a registered scheme appoints an individual, firm or company as auditor of a company in contravention of subsection (1) :

(a)    the purported appointment does not have any effect; and

(b)    the company or responsible entity, and any officer of the company or responsible entity who is in default, are each guilty of an offence.

Note: An officer of a company, or of a responsible entity, is in default if the officer is involved in the contravention of subsection (1) by the company, the company ' s directors or the entity: see the definitions of in default and involved in section 9 .