Document ID: chunk:federal_register_of_legislation:C2025C00185:section:989ca
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 989CA
Character Range: 4120095–4121252

989CA  Audit to be conducted in accordance with auditing standards
 (1) If an individual auditor, or an audit company, conducts an audit of a profit and loss statement and balance sheet for the purposes of this Subdivision, the individual auditor or audit company must:
 (a) conduct the audit in accordance with the auditing standards; and
 (b) include in the audit report on the profit and loss statement, and balance sheet, any statements or disclosures required by the auditing standards.
 (2) If an audit firm, or an audit company, conducts an audit of a profit and loss statement and balance sheet for the purposes of this Subdivision, the lead auditor for the audit or review must ensure that:
 (a) the audit is conducted in accordance with the auditing standards; and
 (b) the audit report on the profit and loss statement, and balance sheet, includes any statements or disclosures required by 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).