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CORPORATIONS ACT 2001 - SECT 328A Auditor's consent to appointment

CORPORATIONS ACT 2001 - SECT 328A

Auditor's consent to appointment

  (1)   A company, the directors of a company or the responsible entity of a registered scheme must not appoint an individual, firm or company as auditor of the company unless that individual, firm or company:

  (a)   has consented, before the appointment, to act as auditor; and

  (b)   has not withdrawn that consent before the appointment is made.

For the purposes of this section, a consent, or the withdrawal of a consent, must be given by written notice to the company, the directors or the responsible entity of the scheme.

  (2)   A notice under subsection   (1) given by a firm must be signed by a member of the firm who is a registered company auditor both:

  (a)   in the firm name; and

  (b)   in his or her own name.

  (3)   A notice under subsection   (1) given by a company must be signed by a director or senior manager of the company both:

  (a)   in the company's name; and

  (b)   in his or her own name.

  (4)   If a company, the directors of a company or the responsible entity of a registered scheme appoints an individual, firm or company as auditor of a company in contravention of subsection   (1):

  (a)   the purported appointment does not have any effect; and

  (b)   the company or responsible entity, and any officer of the company or responsible entity who is in default, are each guilty of an offence.

Note:   An officer of a company, or of a responsible entity, is in default if the officer is involved in the contravention of subsection   (1) by the company, the company's directors or the entity: see the definitions of in default and involved in section   9.

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