Document ID: chunk:federal_register_of_legislation:C2025C00185:section:324ae
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 324AE
Character Range: 1183438–1184507

324AE  Meaning of professional member—audit team
  If an individual auditor, audit firm or audit company conducts an audit of a company or registered scheme, a person who is any of the following is a professional member of the audit team for the audit:
 (a) a registered company auditor who participates in the conduct of the audit;
 (b) a person who participates in the conduct of the audit and, in the course of doing so, exercises professional judgement in relation to the application of or compliance with:
 (i) accounting standards; or
 (ii) auditing standards; or
 (iii) the provisions of this Act dealing with financial reporting and the conduct of audits; and
 (c) a person who is in a position to directly influence the outcome of the audit because of the role they play in the design, planning, management, supervision or oversight of the audit;
 (d) a person who recommends or decides what the lead auditor is to be paid in connection with the performance of the audit;
 (e) a person who provides, or takes part in providing, quality control for the audit.