Document ID: chunk:federal_register_of_legislation:C2025C00134:section:130ca:p2
Version: federal_register_of_legislation:C2025C00134
Segment Type: section
Provision Reference: s 130CA (pt 2/3)
Character Range: 708497–711157

RSE audit firm of audit functions under this Act, the regulations, the prudential standards or the Financial Sector (Collection of Data) Act 2001 in relation to the entity; and
 (d) the lead auditor does not, immediately after the lead auditor forms the opinion:
 (i) tell a trustee of the entity about the matter in writing; and
 (ii) if the contravention about which the lead auditor has formed the opinion is of such a nature that it may affect the interests of members or beneficiaries of the entity—tell the Regulator about the matter in writing.
 (3) A member of an RSE audit firm does not commit an offence at a particular time because of a contravention of subsection (2) if the member:
 (a) does not know at that time of the circumstances that constitute the contravention of subsection (2); or
 (b) does know of those circumstances at that time but takes all reasonable steps to correct the contravention as soon as possible after the member becomes aware of those circumstances.
Note: A defendant bears an evidential burden in relation to the matters in this subsection, see subsection 13.3(3) of the Criminal Code.

Contravention by lead auditor
 (4) A person contravenes this subsection if:
 (a) the person is the lead auditor for an audit of a registrable superannuation entity; and
 (b) the person forms the opinion that there has been a failure to implement an actuarial recommendation relating to contributions to the fund by the employer‑sponsor that a trustee of the fund, or an employer‑sponsor of the fund, was required to implement and that was contained in:
 (i) a report of an actuary obtained under the regulations or the prudential standards; or
 (ii) a report of an actuary obtained in accordance with a requirement under the regulations or the prudential standards; or
 (iii) a document in a class prescribed by regulations for the purposes of this subparagraph; and
 (c) the person formed the opinion in the course of, or in connection with, the performance by an RSE audit firm or RSE audit company of audit functions under this Act, the regulations, the prudential standards or the Financial Sector (Collection of Data) Act 2001 in relation to the entity; and
 (d) the person does not, immediately after the person forms the opinion:
 (i) tell a trustee of the entity about the matter in writing; and
 (ii) if the contravention about which the person has formed the opinion is of such a nature that it may affect the interests of members or beneficiaries of the entity—tell the Regulator about the matter in writing.

No civil liability for telling about a matter
 (5) A person is not liable in a civil action or civil proceeding