Document ID: chunk:federal_register_of_legislation:C2025C00185:section:324cm
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 324CM
Character Range: 1280565–1282122

324CM  Deliberately disqualifying auditor

Individual auditor
 (1) An individual contravenes this subsection if:
 (a) the individual is appointed auditor of a company, registered scheme or registrable superannuation entity; and
 (b) while the appointment continues, the individual brings about a state of affairs; and
 (c) the individual cannot, while that state of affairs continues, act as auditor of the company, scheme or entity without contravening Division 2 or 3.

Audit firm
 (2) A member of a firm contravenes this subsection if:
 (a) the firm is appointed auditor of a company, registered scheme or registrable superannuation entity; and
 (b) while the appointment continues, the member brings about a state of affairs; and
 (c) the firm cannot, while that state of affairs continues, act as auditor of the company, scheme or entity without a person contravening Division 2 or 3.

Audit company
 (3) A person who is:
 (a) a member of a company; or
 (b) a director of a company; or
 (c) a lead auditor in relation to an audit conducted by a company;
contravenes this subsection if:
 (d) the company is appointed auditor of a company, registered scheme or registrable superannuation entity; and
 (e) while the appointment continues, the person brings about a state of affairs; and
 (f) the company cannot, while that state of affairs continues, act as auditor of the company, scheme or entity without contravening Division 2 or 3.

Division 5—Auditor rotation for listed companies, listed registered schemes and registrable superannuation entities