Document ID: chunk:federal_register_of_legislation:F2024L00637:body:0:p10
Version: federal_register_of_legislation:F2024L00637
Segment Type: other
Provision Reference: 
Character Range: 23918–25099

Standard, it is expected that any circumstances of the type that would lead to a breach of Division 3 of Part 2M.4 of the Corporations Act will also result in a breach of the provisions of this Prudential Standard.
[20]  'Review auditor' means the registered company auditor (if any) who is primarily responsible to the individual auditor, audit firm or audit company for reviewing audit work conducted in relation to RSE licensee law.
[21]  For the purpose of this paragraph, an individual 'plays a significant role' if (a) the person is appointed as an individual RSE auditor and acts as the auditor in respect of any of the requirements of RSE licensee law; or (b) an audit company or audit firm is appointed as RSE auditor and the person acts, on behalf of the company or firm, as a lead auditor, or a review auditor, in respect of any of the requirements of RSE licensee law.
[22]  From 1 July 2028, the limited term for eligibility to play a significant role in the audit of an RSE will be assessed solely in accordance with section 324DA of the Corporations Act.
[23]  Refer also to the whistleblowing provisions in SPS 520.
    [24]  Refer to section 34C(5) of the SIS Act.