Entire section
6.3.5. Financial year end
6.3.7. Independence of the Auditor

6.3.6. Appointment and termination of Auditors

An Authorised Person must:

  • (a) notify the AFSA of the appointment of an Auditor using the form prescribed in Schedule 3;
  • (b) prior to the appointment of the Auditor, take reasonable steps to ensure that the Auditor has the required skills, resources and experience to audit the business of the Authorised Person for which the Auditor has been appointed;
  • (c) notify the AFSA immediately if the appointment of the Auditor is or is about to be terminated, or on the resignation of its Auditor, using the form prescribed in Schedule 3;
  • (d) appoint an Auditor to fill any vacancy in the office of Auditor and ensure that the replacement Auditor can take up office at the time the vacancy arises or as soon as reasonably practicable; and
  • (e) comply with any request by the AFSA to replace an Auditor previously appointed by that Authorised Person.