Auditor to notify co-operative of declaration (cf Corporations Act s 342B)
324 Auditor to notify co-operative of declaration (cf Corporations Act s 342B)
(1) If a registered company auditor plays a significant role in the audit of a co-operative in reliance on a declaration by the Registrar under section 323, the auditor must give the co-operative written notice of the declaration.
Maximum penalty: $500.
The notice must specify:
the name of the registered company auditor; and
(b) the additional financial years for which the registered company auditor is, because of the declaration under section 323, eligible to play a significant role in the audit of the co‑operative.
The notice must be given:
(a) as soon as practicable after the declaration is made if the auditor has been appointed before the declaration is made; or
(b) before the auditor is appointed if the declaration is made before the auditor is appointed.
This Act’s bill:Explanatory statement
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