Document ID: chunk:federal_register_of_legislation:C2025C00185:section:307a
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 307A
Character Range: 1116642–1117602

307A  Audit of financial report to be conducted in accordance with auditing standards
 (1) If an individual auditor, or an audit company, conducts:
 (a) an audit or review of the financial report for a financial year; or
 (b) an audit or review of the financial report for a half‑year;
the individual auditor or audit company must conduct the audit or review in accordance with the auditing standards.
 (2) If an audit firm, or an audit company, conducts:
 (a) an audit or review of the financial report for a financial year; or
 (b) an audit or review of the financial report for a half‑year;
the lead auditor for the audit or review must ensure that the audit or review is conducted in accordance with the auditing standards.

Fault‑based offence
 (3) A person commits an offence if the person contravenes subsection (1) or (2).

Strict liability offence
 (4) A person commits an offence of strict liability if the person contravenes subsection (1) or (2).