Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) This section applies if a person has made an application under subsection 255A(1) for registration as an auditor.
(2) If the person is a registered company auditor, the General Manager must, subject to section 255E, grant the application and register the person as an auditor.
(3) If the person is not a registered company auditor, the General Manager must, subject to section 255E, grant the application and register the person as an auditor if the General Manager is satisfied that:
(a) the person meets the requirements of subsection 255C(1) or (2) (educational qualifications, or equivalent qualifications and experience); and
(b) the person has either:
(i) satisfied all the components of an auditing competency standard approved by the Australian Securities and Investments Commission under section 1280A of the Corporations Act 2001 ; or
(ii) had such practical experience in auditing as is prescribed by the regulations for the purposes of this paragraph; and
(c) the General Manager is satisfied that the person is capable of performing the duties of an auditor and is otherwise a fit and proper person to be registered as an auditor.