Victorian Numbered Acts Victorian Numbered Acts(1) An owners corporation at its annual general meeting may resolve that its financial statements are to be audited after the end of the financial year by—
(a) a registered company auditor; or
(b) a firm of registered company auditors; or
(c) a person who is a member of CPA Australia or the Institute of Chartered Accountants in Australia; or
(d) any other person who is approved by the Director as an auditor of the financial statements of the owners corporation for the purposes of this section.
(2) A prescribed owners corporation must, after the end of each financial year cause its financial statements to be audited by—
(a) a registered company auditor; or
(b) a firm of registered company auditors; or
(c) a person who is a member of CPA Australia or the Institute of Chartered Accountants in Australia; or
(d) any other person who is approved by the Director as an auditor of the financial statements of the owners corporation for the purposes of this section.
(3) A person who audits the accounts of an owners corporation must provide the owners corporation with a written report of the audit.
(4) A person may not be appointed as auditor of the accounts of the owners corporation for the purposes of this section if the person has a direct or indirect personal or financial interest in the owners corporation.
(5) The Director may grant approval to a suitably qualified person or class of suitably qualified persons (other than a person referred to in sub-section (4)) to audit the accounts of an owners corporation or a class of owners corporations.
(6) An owners corporation may apply in writing to the Director for an exemption from the requirements of sub-section (2).
(7) The Director may grant the exemption subject to any conditions the Director thinks fit.
(8) The Director may at any time, by notice in writing, vary or revoke an exemption under this section.