Australian Charities and Not-for-profits Commission Act 2012 (Cwth)
The audit or review must be undertaken by: (a) a registered company auditor (within the meaning of the Corporations Act 2001 ); or (b) a firm:
(i) that consents to be appointed, or is appointed, as auditor of a registered entity; and
(c) an authorised audit company (within the meaning of that Act); or (d) an entity prescribed by the regulations for the purposes of this paragraph.
(ii) at least one member of which is a registered company auditor (within the meaning of that Act) who is ordinarily resident in Australia; or
60-30(2)
In the case of a review of the financial report of a medium registered entity, an individual who is taken to be a registered company auditor under subsection 324BE(1) of the Corporations Act 2001 is taken to be a registered company auditor for the purposes of this Subdivision.
Note: Subsection 324BE(1) of the Corporations Act 2001 allows certain members of professional accounting bodies who are not registered company auditors to undertake a review.
60-30(3)
In the case of an audit, the auditor must form an opinion about: (a) whether the financial report satisfies the requirements of this Division; and (b) whether the auditor has been given all information, explanation and assistance necessary for the conduct of the audit; and (c) whether the registered entity has kept financial records sufficient to enable a financial report to be prepared and audited; and (d) whether the registered entity has kept other records as required by this Part.
60-30(4)
In the case of a review, the reviewer must form a conclusion about: (a) whether, on the basis of the review, anything has come to the reviewer ' s attention that causes the reviewer to believe that the financial report does not satisfy the requirements of this Division; and (b) whether the reviewer has been given all information, explanation and assistance necessary for the conduct of the review; and (c) whether the registered entity has kept financial records sufficient to enable a financial report to be prepared and reviewed; and (d) whether the registered entity has kept other records as required by this Part.
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