Document ID: chunk:federal_register_of_legislation:C2024C00492:section:6:p123
Version: federal_register_of_legislation:C2024C00492
Segment Type: section
Provision Reference: s 6 (pt 123/175)
Character Range: 482969–485587

contravention has not been or will not be adequately dealt with by commenting on it in the auditor's report or bringing it to the attention of the directors; and
 (c) the auditor does not notify the Registrar in writing of those circumstances as soon as practicable, and in any case within 28 days, after the auditor becomes aware of those circumstances.
Penalty: 50 penalty units or imprisonment for 12 months, or both.

Contravention by audit company
 (2) If the auditor is an audit company, the auditor commits an offence if:
 (a) the lead auditor for the audit is aware of circumstances that:
 (i) the lead auditor has reasonable grounds to suspect amount to a contravention of this Act; or
 (ii) amount to an attempt, in relation to the audit, by any person to unduly influence, coerce, manipulate or mislead a person involved in the conduct of the audit (see subsection (6)); or
 (iii) amount to an attempt, by any person, to otherwise interfere with the proper conduct of the audit; and
 (b) if subparagraph (a)(i) applies:
 (i) the contravention is a significant one; or
 (ii) the contravention is not a significant one and the lead auditor believes that the contravention has not been or will not be adequately dealt with by commenting on it in the auditor's report or bringing it to the attention of the directors; and
 (c) the lead auditor does not notify the Registrar in writing of those circumstances as soon as practicable, and in any case within 28 days, after the lead auditor becomes aware of those circumstances.
Penalty: 50 penalty units or imprisonment for 12 months, or both.

Contravention by lead auditor
 (3) A person commits an offence if:
 (a) the person is the lead auditor for the audit; and
 (b) the person is aware of circumstances that:
 (i) the person has reasonable grounds to suspect amount to a contravention of this Act; or
 (ii) amount to an attempt, in relation to the audit, by any person to unduly influence, coerce, manipulate or mislead a person involved in the conduct of the audit (see subsection (6)); or
 (iii) amount to an attempt, by any person, to otherwise interfere with the proper conduct of the audit; and
 (c) if subparagraph (b)(i) applies:
 (i) the contravention is a significant one; or
 (ii) the contravention is not a significant one and the person believes that the contravention has not been or will not be adequately dealt with by commenting on it in the auditor's report or bringing it to the attention of the directors; and
 (d) the person does not notify the Registrar in writing of those circumstances as soon as practicable, and in any case within 28