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CORPORATIONS (ABORIGINAL AND TORRES STRAIT ISLANDER) REGULATIONS 2017 (F2017L01311) - REG 24

Requirement for financial reports to be audited

             (1)  This section is made for the purposes of subsection 333-15(1) and paragraphs 333-15(2)(a), (b) and (d) of the Act.

             (2)  An Aboriginal and Torres Strait Islander corporation must have a financial report for a financial year audited and must obtain an auditor's report.

             (3)  The auditor of the financial report must be:

                     (a)  an individual auditor who is a registered company auditor; or

                     (b)  an audit firm that has at least one member who is a registered company auditor who is ordinarily resident in Australia; or

                     (c)  an authorised audit company.

             (4)  The audit of the financial report must be conducted in accordance with the auditing standards.

Note:          For the definition of auditing standard , see section 700-1 of the Act.



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