Document ID: chunk:federal_register_of_legislation:C2025C00182:section:50b
Version: federal_register_of_legislation:C2025C00182
Segment Type: section
Provision Reference: s 50B
Character Range: 362181–362729

50B  Notice of audit deficiency
 (1) ASIC may, in writing, notify the Australian auditor of the identified audit deficiency.
 (2) The notice must:
 (a) set out:
 (i) the identified audit deficiency; and
 (ii) any remedial action that ASIC thinks necessary to remedy the deficiency; and
 (iii) such other matters in relation to the deficiency as ASIC thinks fit; and
 (b) invite the auditor to make written submissions to ASIC, within 6 months, about the deficiency and any remedial action taken, or proposed to be taken, to remedy the deficiency.