Document ID: chunk:federal_register_of_legislation:F2024C00936:reg:24:p48
Version: federal_register_of_legislation:F2024C00936
Segment Type: reg
Provision Reference: reg 24 (pt 48/52)
Character Range: 164382–167071

audited body to avoid impairing the independence of the auditor's ability to provide audit services under these Regulations.

Obligation on audit team leaders
 (10) If the auditor is an audit team leader, he or she must ensure that the other audit team members comply with the Code of Conduct when assisting in carrying out the audit.

Professional behaviour
 (11) The auditor must avoid any action that may bring discredit to the auditor or greenhouse and energy auditors generally.

Subdivision 6.6.3—General independence requirements

6.47  Conflict of interest situation
 (1) An audit team leader must not breach a requirement of this regulation in relation to an audited body for a Part 6 audit.
Note: Regulation 6.71 empowers the Regulator to grant exemptions from the general independence requirements.

Must take steps to resolve conflict of interest situation or apply for exemption from requirements
 (2) If:
 (a) the audit team leader engages in audit activity in relation to the audited body at a particular time; and
 (b) a conflict of interest situation exists in relation to the audited body at that time; and
 (c) at that time the audit team leader is aware that the conflict of interest situation exists;
the audit team leader must, as soon as possible after he or she becomes aware that the conflict of interest situation exists, take all reasonable steps to ensure that the conflict of interest situation ceases to exist.
Note: For conflict of interest situation see regulation 6.49.

Requirement if conflict of interest situation relates to the audit team leader
 (3) If:
 (a) the audit team leader is carrying out the audit; and
 (b) a conflict of interest situation exists in relation to the audited body while the audit team leader is the audit team leader for the audit; and
 (c) the conflict of interest situation exists in relation to the audit team leader; and
 (d) on a particular day (the start day) the audit team leader becomes aware that the conflict of interest situation exists; and
 (e) at the end of the period of 21 days from the start day the conflict of interest situation remains in existence;
then the audit team leader must cease to be the audit team leader within 7 days after the end of that period and notify the Regulator and the audited body in writing accordingly.

Requirement if conflict of interest situation relates to other professional member of the audit team
 (4) If:
 (a) the audit team leader is carrying out the audit; and
 (b) a conflict of interest situation exists in relation to the audited body while the audit team leader is the audit team leader for the audit; and
 (c) the conflict of interest situation exists in relation