Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) A person or firm, while ineligible to act as auditor of the licensee, must not:
(a) consent to be appointed as auditor of the licensee; or
(b) act as auditor of the licensee; or
(c) prepare a report that an auditor of the licensee is to prepare under this Part.
Note: Failure to comply with this subsection is an offence (see subsection 1311(1)).
(2) A person must not:
(a) if the person has been appointed auditor of the licensee--disqualify himself or herself, while the appointment continues, from acting as auditor of the licensee; or
(b) if the person is a member of a firm that has been appointed auditor of the licensee--disqualify the firm, while the appointment continues, from acting as auditor of the licensee.
Note: Failure to comply with this subsection is an offence (see subsection 1311(1)).