Audit of administration books—Inspector‑General
70-15 Audit of administration books—Inspector‑General
Inspector‑General may audit books, or cause them to be audited
The Inspector‑General may audit, or cause to be audited, the books referred to in section 70‑5 (annual administration return), 70‑10 (administration books) or 70‑11 (books when trading).
Audit on the Inspector‑General’s initiative or on request
The audit may be conducted:
on the Inspector‑General’s own initiative; or
at the request of the regulated debtor; or
at the request of a creditor.
Auditor must prepare a report
The person carrying out the audit must prepare a report on the audit.
Inspector‑General must give a copy of the report
The Inspector‑General must give a copy of the report to:
the trustee of the estate; and
the person who requested the report (if any).
Costs of an audit
The costs of an audit under this section must be determined by the Inspector‑General and is to be borne by the estate.
Qualified privilege in relation to audit reports
A person who conducts an audit under this section has qualified privilege (within the meaning of the Corporations Act 2001) in respect of any report prepared under subsection (3) that is given to a person under subsection (4) or otherwise published.
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