Northern Territory Consolidated Acts Northern Territory Consolidated Acts60. Qualifications of auditor
(1) A licensed agent shall not engage as the agent's auditor, or permit the audit of the agent's accounting records relating to trust moneys to be made by, a person who:
(a) is not a registered company auditor;
(b) is an employee of, or is a partner of, or is a relation of, the licensed agent;
(c) is an employee of any other licensed agent;
(d) is engaged in keeping and entering those records or has those records in the agent's custody or control;
(e) is himself or herself a licensed agent;
(f) is a director, officer or employee of a company that is a licensed agent;
(g) is a person by whom a firm is constituted that is a licensed agent; or
(h) is an employee of, or is a partner of, or is a relation of, a business manager of a company or firm that is a licensed agent.
Penalty: If the offender is a natural person - 100 penalty units.
If the offender is a body corporate - 500 penalty units.
(2) For the purposes of this section, relation means:
(a) the parent, grandparent, brother, sister, uncle, aunt, nephew, niece, lineal descendant or adopted child of that person or of a spouse or de facto partner of the person; or
(b) a spouse or de facto partner of that person or of any other person specified in paragraph (a).