Corporations (Aboriginal and Torres Strait Islander) Act 2006
The auditor of a financial report must prepare a report for the corporation ' s members on whether the auditor is of the opinion that the financial report is in accordance with: (a) this Act ; and (b) any applicable regulations made for the purposes of sections 333-10 and 333-15 ; and (c) any applicable determinations made by the Registrar under section 336-1 or 336-5 . If not of that opinion, the auditor ' s report must say why.
Penalty: 50 penalty units.
339-40(2)
If: (a) the financial report is required to comply with the accounting standards; and (b) the auditor is of the opinion that the financial report does not comply with an accounting standard;
the auditor ' s report must, to the extent it is practicable to do so, quantify the effect that non-compliance has on the financial report. If it is not practicable to quantify the effect fully, the report must say why.
Penalty: 50 penalty units.
339-40(3)
The auditor ' s report must describe: (a) any defect or irregularity in the financial report; and (b) any deficiency, failure or shortcoming in respect of the matters referred to in paragraph 339-30(b) , (c) or (d) .
Penalty: 50 penalty units.
339-40(4)
If the audit of the financial report is required to be conducted in accordance with some or all of the auditing standards, the auditor ' s report must include any statements or disclosures required by those auditing standards.
Penalty: 50 penalty units.
339-40(5)
The auditor ' s report must contain any other information required by the regulations.
339-40(6)
The report must specify the date on which it is made.
Penalty: 50 penalty units.
339-40(7)
An offence against subsection (1) , (3) , (4) or (6) is an offence of strict liability.
Note:
For strict liability , see section 6.1 of the Criminal Code .
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