Treasury Laws Amendment (2022 Measures No. 4) Act 2023 (29 of 2023)

Schedule 6   Financial reporting and auditing requirements for superannuation entities

Part 2   Amendments of other Acts

Superannuation Industry (Supervision) Act 1993

220   After subsection 35AC(2)

Insert:

(2A) The RSE licensee of the registrable superannuation entity must not appoint a firm or company as an auditor of the entity unless the RSE licensee is reasonably satisfied that:

(a) the lead auditor for an audit of the entity that is conducted, or to be conducted, by the firm or company:

(i) meets the eligibility criteria for auditors of registrable superannuation entities set out in the prudential standards; and

(ii) has not been disqualified from being or acting as an auditor of a registrable superannuation entity under section 130D; and

(b) the firm or company has not been disqualified from being or acting as an auditor of a registrable superannuation entity under section 130EA.