Document ID: chunk:federal_register_of_legislation:C2004A01334:clause:1_324cm
Version: federal_register_of_legislation:C2004A01334
Segment Type: clause
Provision Reference: sch 1 cl 324CM
Character Range: 165145–166518

324CM  Deliberately disqualifying auditor

Individual auditor

 (1) An individual contravenes this subsection if:
 (a) the individual is appointed auditor of a company or registered scheme; and
 (b) while the appointment continues, the individual brings about a state of affairs; and
 (c) the individual cannot, while that state of affairs continues, act as auditor of the company or scheme without contravening Division 2 or 3.

Audit firm

 (2) A member of a firm contravenes this subsection if:
 (a) the firm is appointed auditor of a company or a registered scheme; and
 (b) while the appointment continues, the member brings about a state of affairs; and
 (c) the firm cannot, while that state of affairs continues, act as auditor of the company or scheme without a person contravening Division 2 or 3.

Audit company

 (3) A person who is:
 (a) a member of a company; or
 (b) a director of a company; or
 (c) a lead auditor in relation to an audit conducted by a company;
contravenes this subsection if:
 (d) the company is appointed auditor of a company or a registered scheme; and
 (e) while the appointment continues, the person brings about a state of affairs; and
 (f) the company cannot, while that state of affairs continues, act as auditor of the company or scheme without contravening Division 2 or 3.

Division 5—Auditor rotation for listed companies