Document ID: chunk:federal_register_of_legislation:C2016A00079:clause:2_92
Version: federal_register_of_legislation:C2016A00079
Segment Type: clause
Provision Reference: sch 2 cl 92
Character Range: 54325–54929

92  Subsections 256(2) and (3)
Repeal the subsections, substitute:
 (2) The position of auditor of a reporting unit is to be held by:
 (a) an individual who is a registered auditor; or
 (b) a firm, at least one of whose members is a registered auditor; or
 (c) a company, at least one of whose directors, officers or employees is a registered auditor.
 (3) An individual must not accept appointment as auditor of a reporting unit unless:
 (a) the individual is a registered auditor; and
 (b) the individual is not an excluded auditor in relation to the reporting unit.
Civil penalty: 200 penalty units.