Document ID: chunk:federal_register_of_legislation:C2004A01334:clause:1_324ce:p2
Version: federal_register_of_legislation:C2004A01334
Segment Type: clause
Provision Reference: sch 1 cl 324CE (pt 2/2)
Character Range: 114337–116352

give a copy of the notice to the audited body.

Strict liability contravention of specific independence requirements by individual auditor

 (2) An individual auditor contravenes this subsection if:
 (a) the individual auditor engages in audit activity at a particular time; and
 (b) a relevant item of the table in subsection 324CH(1) applies at that time to a person or entity covered by subsection (5) of this section.

 (3) For the purposes of an offence based on subsection (2), strict liability applies to the physical elements of the offence specified in paragraph (2)(b).

Note 1: For strict liability, see section 6.1 of the Criminal Code.

Note 2: Subsection (4) provides a defence.

 (4) An individual auditor does not commit an offence because of a contravention of subsection (2) in relation to audit activity engaged in by the individual auditor at a particular time if the individual auditor has reasonable grounds to believe that the individual auditor had in place at that time a quality control system that provided reasonable assurance (taking into account the size and nature of the audit practice of the individual auditor) that the individual auditor and the individual auditor's employees complied with the requirements of this Subdivision.

Note: A defendant bears an evidential burden in relation to the matters in this subsection, see subsection 13.3(3) of the Criminal Code.

People and entities covered

 (5) The following table sets out:
 (a) the persons and entities covered by this subsection in relation to audit activity engaged in by an individual auditor; and
 (b) the items of the table in subsection 324CH(1) that are the relevant items for each of those persons and entities:

Individual auditor
Item                For this person or entity...                                                                                                                                                                          the relevant items of the table in subsection 324CH(1) are...