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CORPORATIONS ACT 2001

CHAPTER 2M - FINANCIAL REPORTS AND AUDIT  

PART 2M.6 - EXEMPTIONS AND MODIFICATIONS  

SECTION 342B  AUDITOR TO NOTIFY COMPANY OR REGISTERED SCHEME OF SECTION 342A DECLARATION  

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342B(1)  [When written notice required]  


If a registered company auditor plays a significant role in the audit of a company or registered scheme in reliance on a declaration by ASIC under section 342A, the auditor must give the company or the responsible entity for the registered scheme written notice of the declaration.

342B(2)  [Content of notice]  


The notice must specify:


(a) the name of the registered company auditor; and


(b) the additional financial years for which the registered company auditor is, because of the declaration under section 342A, eligible to play a significant role in the audit of the company or registered scheme.

342B(3)  [When notice to be given]  


The notice must be given:


(a) as soon as practicable after the declaration is made if the auditor has been appointed before the declaration is made; or


(b) before the auditor is appointed if the declaration is made before the auditor is appointed.


 



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