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CORPORATIONS ACT 2001

CHAPTER 2M - FINANCIAL REPORTS AND AUDIT  

PART 2M.4A - ANNUAL TRANSPARENCY REPORTS FOR AUDITORS    View history reference

SECTION 332G  OFFENCES BY MEMBERS OF AUDIT FIRM  

 View history reference

332G(1)  

This Part applies to an audit firm as if it were a person, but with the changes set out in this section.

332G(2)  

An obligation that would otherwise be imposed on the firm by a provision of this Part is imposed on each member of the firm instead, but may be discharged by any of the members.

332G(3)  

An offence based on a provision of this Part that would otherwise be committed by the audit firm is taken to have been committed by each member of the firm.

332G(4)  

A member of the firm does not commit an offence because of subsection (3) if the member:


(a) does not know of the circumstances that constitute the contravention of the provision concerned; or


(b) knows of those circumstances but takes all reasonable steps to correct the contravention as soon as possible after the member becomes aware of those circumstances.

Note: A defendant bears an evidential burden in relation to the matters in subsection (4) - see subsection 13.3(3) of the Criminal Code.


 



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