Audit directions
89W Audit directions
(1) The CEO may issue an audit direction to an interest holder requiring that one or more audits be undertaken, to the satisfaction of the CEO, for any one or more of the purposes referred to in section 89U.
An audit direction must:
be in writing given to the interest holder; and
specify the purpose or purposes of the audit.
(3) An audit direction may require one or more of the following:
(a) that the auditor appointed to undertake the audit holds an accreditation or qualification specified by the CEO;
approval by the CEO of the auditor before being appointed;
(c) preparation of specified written documentation during the course of the audit;
preparation of an audit report;
giving the audit report to the CEO.
An audit direction may also:
specify the format and level of detail required for the audit; or
(b) require the auditor to submit the proposed format and level of detail to the CEO for approval.
(5) The CEO may, by written notice given to the person to whom an audit direction is issued, vary or revoke the direction.
This Act’s bill:Second reading speech
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