Document ID: chunk:federal_register_of_legislation:C2025C00185:section:250ra
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 250RA
Character Range: 796259–797613

250RA  Auditor required to attend listed company's AGM

Contravention by individual auditor
 (1) If a listed company's auditor for a financial year is an individual auditor, the auditor contravenes this subsection if:
 (a) the auditor does not attend the company's AGM at which an auditor's report for that financial year is considered; and
 (b) the auditor does not arrange to be represented, at that AGM, by a person who:
 (i) is a suitably qualified member of the audit team that conducted the audit; and
 (ii) is in a position to answer questions about the audit.
 (2) An offence based on subsection (1) is an offence of strict liability.
Note: For strict liability, see section 6.1 of the Criminal Code.

Contravention by lead auditor
 (3) A person contravenes this subsection if:
 (a) a listed company's auditor for a financial year is an audit firm or an audit company; and
 (b) the person is the lead auditor for the audit; and
 (c) the person is not represented, at the AGM at which an auditor's report for that financial year is considered, by a person who:
 (i) is a suitably qualified member of the audit team that conducted the audit; and
 (ii) is in a position to answer questions about the audit.
 (4) An offence based on subsection (3) is an offence of strict liability.
Note: For strict liability, see section 6.1 of the Criminal Code.