ASSOCIATIONS INCORPORATION REGULATIONS 2016 - REG 12

ASSOCIATIONS INCORPORATION REGULATIONS 2016 - REG 12

12 .         Designations for reviewers and auditors (s. 88(2)(a))

        (1)         For the purposes of section 88(2)(a) of the Act and subject to subregulation (2), the following designations are prescribed for a reviewer or auditor —

            (a)         if the reviewer or auditor is a member of Chartered Accountants Australia and New Zealand — the designation CA or FCA;

            (b)         if the reviewer or auditor is a member of CPA Australia — the designation CPA or FCPA;

            (c)         if the reviewer or auditor is a member of the Institute of Public Accountants — the designation MIPA or FIPA.

        (2)         A designation in respect of an auditor only has effect for the purposes of subregulation (1) if the auditor holds —

            (a)         for a designation mentioned in subregulation (1)(a), a current Certificate of Public Practice issued by Chartered Accountants Australia and New Zealand; or

            (b)         for a designation mentioned in subregulation (1)(b), a current Public Practice Certificate issued by CPA Australia; or

            (c)         for a designation mentioned in subregulation (1)(c), a current Public Practice Certificate issued by the Institute of Public Accountants.