Document ID: chunk:federal_register_of_legislation:F2024C00936:reg:16:p3
Version: federal_register_of_legislation:F2024C00936
Segment Type: reg
Provision Reference: reg 16 (pt 3/13)
Character Range: 184188–186811

body; or
 (c) to provide technical assistance to the audited body to develop monitoring methodologies for greenhouse gas emissions or energy for the audited body; or
 (d) to develop or appraise a project under the CFI Act.

6.59  Audit team leader rotation requirement
 (1) An audit team leader must comply with the following requirements in relation to a particular audited body unless the audit team leader has been exempted from the requirements of this regulation under regulation 6.71 in respect of the audited body.
 (2) The audit team leader must not, in relation to a particular audited body, be the audit team leader for more than 5 consecutive Part 6 audits of the same kind carried out in relation to the audited body.
 (3) Between each set of 5 consecutive Part 6 audits of the same kind carried out in relation to a particular audited body there must be at least 2 successive Part 6 audits of that kind carried out in relation to the audited body for which the audit team leader was not the audit team leader.
 (4) The audit team leader must ensure that the professional members of the audit team are eligible to participate in the audit.
 (5) The audit team leader may apply under regulation 6.71 for the exemption referred to in subregulation (1).

Subdivision 6.6.6—Insurance

6.60  Registered greenhouse and energy auditor must have insurance
 (1) The audit team leader in relation to a Part 6 audit must have adequate and appropriate professional indemnity insurance that complies with the requirements of this regulation while preparing for and undertaking the audit and in preparing the report on the audit.
 (2) The insurance policy must provide for an insured amount that is sufficient to cover claims reasonably anticipated to arise from Part 6 audits carried out by the audit team leader, with a minimum insured amount worked out as follows:
 (a) if the fee for an audit is estimated to be $100,000 or less—the insured amount must be at least $2 million;
 (b) if the fee for an audit is estimated to be more than $100,000 but less than $300,000—the insured amount must be at least $5 million;
 (c) if the fee for an audit is estimated to be $300,000 or more—the insured amount must be at least $10 million.
 (3) The insurance policy must:
 (a) cover any civil legal liability arising in relation to a Part 6 audit carried out by the audit team leader, including liability arising out of the dishonesty of the team members; and
 (b) subject to subregulation (4), cover costs and expenses incurred by the audit team leader and the team members when defending and settling claims of at least the amount