Corporations (Aboriginal and Torres Strait Islander) Act 2006
This section applies in relation to the audit of a financial report of an Aboriginal and Torres Strait Islander corporation if section 339-75 does not apply to the audit.
339-80(2)
The regulations may provide for auditor independence requirements to be met in relation to the audit.
339-80(3)
Without limiting subsection (2) , the regulations may: (a) specify as a requirement that a person comply with any applicable code of professional conduct in relation to the audit; or (b) provide that a person commits an offence in particular circumstances if the auditor independence requirements are not met.
339-80(4)
Regulations made for the purposes of paragraph (3)(b) must not prescribe penalties exceeding 50 penalty units for contraventions of the regulations.
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