Document ID: chunk:federal_register_of_legislation:C2004A01334:clause:1_342b
Version: federal_register_of_legislation:C2004A01334
Segment Type: clause
Provision Reference: sch 1 cl 342B
Character Range: 195525–196449

342B  Auditor to notify company or registered scheme of section 342A declaration

 (1) If a registered company auditor plays a significant role in the audit of a company or registered scheme in reliance on a declaration by ASIC under section 342A, the auditor must give the company or the responsible entity for the registered scheme written notice of the declaration.

 (2) The notice must specify:
 (a) the name of the registered company auditor; and
 (b) the additional financial years for which the registered company auditor is, because of the declaration under section 342A, eligible to play a significant role in the audit of the company or registered scheme.

 (3) The notice must be given:
 (a) as soon as practicable after the declaration is made if the auditor has been appointed before the declaration is made; or
 (b) before the auditor is appointed if the declaration is made before the auditor is appointed.