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CORPORATIONS ACT 2001 - SECT 990K Auditor to report on certain matters

CORPORATIONS ACT 2001 - SECT 990K

Auditor to report on certain matters

  (1)   If an auditor, in the performance of duties as auditor of the licensee, becomes aware of a matter referred to in subsection   (2), the auditor must, within 7 days after becoming aware of the matter, lodge a written report on the matter with ASIC in a prescribed form and send a copy of the report to the licensee, and to each licensed market (if any) and each licensed CS facility (if any) in which the licensee is a participant.

Note:   Failure to comply with this section is an offence (see subsection   1311(1)).

  (2)   A report must be given in relation to any matter that, in the opinion of the auditor:

  (a)   has adversely affected, is adversely affecting or may adversely affect the ability of the licensee to meet the licensee's obligations as a licensee; or

  (b)   constitutes or may constitute a contravention of:

  (i)   a provision of Subdivision A or B of Division   2 (or a provision of regulations made for the purposes of such a provision); or

  (ii)   a provision of Division   3 (or a provision of regulations made for the purposes of such a provision); or

  (iii)   a provision of Subdivision B or C of this Division (or a provision of regulations made for the purposes of such a provision); or

  (iv)   a condition of the licensee's licence; or

  (c)   constitutes an attempt to unduly influence, coerce, manipulate or mislead the auditor in the conduct of the audit.

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