Corporations Act. Australia

Чтение книги онлайн.

СКАЧАТЬ report for a half‑year; and

      (b) the audit firm fails, at a particular time, to retain all audit working papers prepared by or for, or considered or used by, the audit firm in accordance with the requirements of the auditing standards until:

      (i) the end of 7 years after the date of the audit report prepared in relation to the audit or review to which the documents relate; or

      (ii) the earlier date determined by ASIC for the audit working papers under subsection (6); and

      (c) the defendant is a member of the firm at that time.

      (4) An offence based on subsection (3) is an offence of strict liability.

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

      Note 2: Subsection (5) provides a defence.

      (5) A member of an audit firm does not commit an offence at a particular time because of a contravention of subsection (3) if the member either:

      (a) does not know at that time of the circumstances that constitute the contravention of subsection (3); or

      (b) knows of those circumstances at that time but takes all reasonable steps to correct the contravention as soon as possible after the member becomes aware of those circumstances.

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

      Earlier retention date for audit working papers

      (6) ASIC may, on application by a person, determine, in writing, an earlier date for the audit working papers for the purposes of paragraphs (1)(c) and (3)(b) if:

      (a) the auditor is an individual auditor and the auditor:

      (i) dies; or

      (ii) ceases to be a registered company auditor; or

      (b) the auditor is an audit firm and the firm is dissolved (otherwise than simply as part of a reconstitution of the firm because of the death, retirement or withdrawal of a member or members or because of the admission of a new member or members); or

      (c) the auditor is an audit company and the company:

      (i) is wound up; or

      (ii) ceases to be an authorised audit company.

      (7) In deciding whether to make a determination under subsection (6), ASIC must have regard to:

      (a) whether ASIC is inquiring into or investigating any matters in respect of:

      (i) the auditor; or

      (ii) the audited body for the audit to which the documents relate; and

      (b) whether the professional accounting bodies have any investigations or disciplinary action pending in relation to the auditor; and

      (c) whether civil or criminal proceedings in relation to:

      (i) the conduct of the audit; or

      (ii) the contents of the financial report to which the audit working papers relate;

      have been, or are about to be, commenced; and

      (d) any other relevant matter.

      Audit working papers kept in electronic form

      (8) For the purposes of this section, if audit working papers are in electronic form they are taken to be retained only if they are convertible into hard copy.

      307C Auditor’s independence declaration

      Contravention by individual auditor

      (1) If an individual auditor conducts:

      (a) an audit or review of the financial report for a financial year; or

      (b) an audit or review of the financial report for a half‑year;

      the individual auditor must give the directors of the company, registered scheme or disclosing entity:

      (c) a written declaration that, to the best of the individual auditor’s knowledge and belief, there have been:

      (i) no contraventions of the auditor independence requirements of this Act in relation to the audit or review; and

      (ii) no contraventions of any applicable code of professional conduct in relation to the audit or review; or

      (d) a written declaration that, to the best of the individual auditor’s knowledge and belief, the only contraventions of:

      (i) the auditor independence requirements of this Act in relation to the audit or review; or

      (ii) any applicable code of professional conduct in relation to the audit or review;

      are those contraventions details of which are set out in the declaration.

      (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) If an audit firm or audit company conducts:

      (a) an audit or review of the financial report for a financial year; or

      (b) an audit or review of the financial report for a half‑year;

      the lead auditor for the audit must give the directors of the company, registered scheme or disclosing entity:

      (c) a written declaration that, to the best of the lead auditor’s knowledge and belief, there have been:

      (i) no contraventions of the auditor independence requirements of this Act in relation to the audit or review; and

      (ii) no contraventions of any applicable code of professional conduct in relation to the audit or review; or

      (d) a written declaration that, to the best of the lead auditor’s knowledge and belief, the only contraventions of:

      (i) the auditor independence requirements of this Act in relation to the audit or review; or

      (ii) any applicable code of professional conduct in relation to the audit or review;

      are those contraventions details of which are set out in the declaration.

      (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.

      (5) The declaration under subsection (1) or (3):

      (a) either:

      (i) СКАЧАТЬ