Security Providers Regulation 2008

An association must ensure a compliance audit is conducted in accordance with all of the following requirements—

an auditor must conduct the audit;

the auditor must be an accountant;

the auditor must clearly define the scope and objectives of each audit before the auditor begins the audit;

the auditor must conduct the audit in compliance with the auditing and assurance standards made by the Auditing and Assurance Standards Board;

the auditor must assess a relevant member’s compliance with the provisions of the association’s code of conduct that are relevant to the functions carried out by the member as a security provider;

the auditor must use a process that enables the auditor to obtain and evaluate evidence for the audit by applying audit procedures to a selection of particular data or information that the association reasonably considers appropriate to a relevant member’s circumstances, including those of a relevant member the association knows or suspects to have breached the association’s code of conduct;

the auditor must give the association a written report about the audit.

The report must include a document signed and dated by the auditor stating—

the auditor’s name and business address; and

whether the auditor is of the opinion that the relevant member is complying with the association’s code of conduct.

An auditor may conduct a compliance audit in a way that the auditor considers appropriate, including, for example, by electronic communication.

Within 3 months of the completion of a compliance audit, the association must give the member audited a written notice about the outcome of the audit.

In this section—