Corporations (Aboriginal and Torres Strait Islander) Act 2006

CHAPTER 7 - RECORD KEEPING, REPORTING REQUIREMENTS AND BOOKS  

PART 7-3 - REPORTING REQUIREMENTS  

Division 339 - Audit of financial reports  

Subdivision 339-B - Conduct of the audit  

SECTION 339-35   AUDITOR OBLIGATIONS IN RELATION TO AUDITING STANDARDS  

339-35(1)    
This section applies if the audit of a financial report is required to be conducted in accordance with the auditing standards.

339-35(2)    
If an individual auditor, or an audit company, conducts the audit of the financial report, the individual auditor or audit company must conduct the audit in accordance with the auditing standards.

Penalty: 50 penalty units.

339-35(3)    
If an audit firm, or an audit company, conducts the audit of the financial report, the lead auditor for the audit must ensure that the audit is conducted in accordance with the auditing standards.

Penalty: 50 penalty units.

339-35(4)    
An offence against subsection (2) or (3) is an offence of strict liability.

Note:

For strict liability , see section 6.1 of the Criminal Code .