(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.