Corporations Act 2001
Note: This Part does not apply to a CCIV or its members. Instead, section 1228A applies a modified version of Part 2G.4 .
View history note
Hide history noteIf a listed company ' s auditor for a financial year is an individual auditor, the auditor contravenes this subsection if:
(a) the auditor does not attend the company ' s AGM at which an auditor ' s report for that financial year is considered; and (b) the auditor does not arrange to be represented, at that AGM, by a person who:
(i) is a suitably qualified member of the audit team that conducted the audit; and
(ii) is in a position to answer questions about the audit.
An offence based on subsection (1) is an offence of strict liability.
Note: For strict liability , see section 6.1 of the Criminal Code .
250RA(3) Contravention by lead auditor.
A person contravenes this subsection if:
(a) a listed company ' s auditor for a financial year is an audit firm or an audit company; and (b) the person is the lead auditor for the audit; and (c) the person is not represented, at the AGM at which an auditor ' s report for that financial year is considered, by a person who:
(i) is a suitably qualified member of the audit team that conducted the audit; and
(ii) is in a position to answer questions about the audit.
An offence based on subsection (3) is an offence of strict liability.
Note: For strict liability , see section 6.1 of the Criminal Code .
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