Commonwealth Consolidated Acts

NORFOLK ISLAND ACT 1979 - SECT 51G

             (1)  Subject to subsections (2) and (4), the Legislative Assembly may, by resolution, set the auditing standards to be complied with by the Auditor when inspecting and auditing the accounts of the Territory.

             (2)  In setting the auditing standards under subsection (1) the Legislative Assembly shall have regard to:

                     (a)  the auditing standards set by the Auditor‑General under section 24 of the Auditor‑General Act 1997 ; and

                     (b)  the auditing standards issued jointly by The Institute of Chartered Accountants in Australia and the Australian Society of Accountants.

             (3)  The Legislative Assembly may amend or vary the standards set under subsection (1) and subsection (2) applies accordingly in relation to such amendment or variation.

             (4)  Where the Auditor‑General is appointed as the Auditor:

                     (a)  the auditing standards set under subsection (1) do not apply to the Auditor‑General; and

                     (b)  the Auditor‑General shall comply with the auditing standards set under section 24 of the Auditor‑General Act 1997 when inspecting and auditing the accounts of the Territory.