Corporate Law Economic Reform Program (Audit Reform and Corporate Disclosure) Act 2004 (103 of 2004)

Schedule 1   Audit Reform

Part 2   Qualifications of auditors

Corporations Act 2001

52   Paragraph 1280(2)(b)

Repeal the paragraph, substitute:

(b) ASIC is satisfied that the applicant has either:

(i) satisfied all the components of an auditing competency standard approved by ASIC under section 1280A; or

(ii) had such practical experience in auditing as is prescribed; and