Section 324CJ — Corporations Act 2001 (Cth)

A person contravenes this section if:

(a) the person who is not a director of an audit company ceases to be a professional employee of the audit company at a particular time (the departure time); and

(b) at any time before the departure time, the audit company has engaged in an audit of an audited body; and

(c) the person was a lead auditor or review auditor for the audit; and

(d) within the period of 2 years starting on the date the report under section 308 or 309 was made on the latest audit to which paragraphs (b) and (c) apply, the person becomes, or continues to be, an officer of the audited body; and

(e) subsection 324CH(3A) (about small proprietary companies) does not apply to the audited body for the most recently ended financial year.

If the audited body is a listed entity (other than a registered scheme), apply paragraph (d) as if references in that paragraph to the audited body included references to a related body corporate of the audited body.

Related sections

• s 324CG — Auditor independence—specific requirements for audit company
• s 324CH — Relevant relationships
• s 324CI — Special rule for retiring partners of audit firms and retiring directors of authorised audit companies
• s 324CK — Multiple former audit firm partners or audit company directors
• s 324CL — People who are regarded as officers of a company for the purposes of this Division
• s 324CLA — Extended meaning of officer of a registrable superannuation entity

Research how courts apply s 324CJ

BriefBridge searches Australian caselaw by meaning — every answer cited to the paragraph.