Document ID: chunk:federal_register_of_legislation:F2024C00932:reg:24
Version: federal_register_of_legislation:F2024C00932
Segment Type: reg
Provision Reference: reg 24
Character Range: 25426–26261

24  Requirement for financial reports to be audited
 (1) This section is made for the purposes of subsection 333‑15(1) and paragraphs 333‑15(2)(a), (b) and (d) of the Act.
 (2) An Aboriginal and Torres Strait Islander corporation must have a financial report for a financial year audited and must obtain an auditor's report.
 (3) The auditor of the financial report must be:
 (a) an individual auditor who is a registered company auditor; or
 (b) an audit firm that has at least one member who is a registered company auditor who is ordinarily resident in Australia; or
 (c) an authorised audit company.
 (4) The audit of the financial report must be conducted in accordance with the auditing standards.
Note: For the definition of auditing standard, see section 700‑1 of the Act.

Subdivision B—Certain small and medium corporations