Document ID: chunk:federal_register_of_legislation:C2012A00072:clause:2_50b
Version: federal_register_of_legislation:C2012A00072
Segment Type: clause
Provision Reference: sch 2 cl 50B
Character Range: 23150–23698

50B  Notice of audit deficiency
 (1) ASIC may, in writing, notify the Australian auditor of the identified audit deficiency.
 (2) The notice must:
 (a) set out:
 (i) the identified audit deficiency; and
 (ii) any remedial action that ASIC thinks necessary to remedy the deficiency; and
 (iii) such other matters in relation to the deficiency as ASIC thinks fit; and
 (b) invite the auditor to make written submissions to ASIC, within 6 months, about the deficiency and any remedial action taken, or proposed to be taken, to remedy the deficiency.