Engaging auditor
(1) The corporate director of a retail CCIV must ensure that at all times a registered company auditor, an audit firm or an authorised audit company is engaged to audit compliance with the CCIV’s compliance plan in accordance with this section. This auditor, firm or company is referred to as the auditor of the compliance plan. (2) An offence based on subsection (1) is an offence of strict liability. (3) A person is not eligible to act as the individual auditor, lead auditor or review auditor of a CCIV’s compliance plan if the person is: (a) the corporate director; or (b) an associate of the corporate director; or (c) a person who holds money or property of the CCIV; or (d) an associate of a person covered by paragraph (c); or (e) the auditor of the corporate director’s financial statements. (4) However: (a) the auditor of the compliance plan and the auditor of the corporate director’s financial statements may work for the same firm of auditors or audit company; and (b) the lead auditor or review auditor of the compliance plan (on the one hand) and the lead auditor or review auditor of the corporate director’s financial statements (on the other hand) may work for the same firm of auditors or audit company. (5) This Subdivision does not prevent the corporate director from arranging for the auditor of the compliance plan to carry out audits in addition to those required by this Subdivision.
Sourced from the Federal Register of Legislation at 17 May 2026. For the latest information on Australian Government law please go to https://www.legislation.gov.au. Verify the current text against the official source before relying on it.
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