36Auditing of general purpose financial reports

36 Auditing of general purpose financial reports

(1) An approved provider that prepared a general purpose financial report must have it audited by: (a) a registered company auditor within the meaning of the Corporations Act 2001; or (b) a person approved by the Secretary under subsection (3). (2) The approved provider must obtain an audit opinion about the general purpose financial report from a registered company auditor or a person approved under subsection (3) that includes a statement as to whether the report complies with paragraphs 35A(2)(b) and (c). (3) The Secretary may approve a person to audit a general purpose financial report if the Secretary is satisfied that the person has appropriate qualifications and experience. (4) The Secretary may revoke an approval of a person under subsection (3) if the Secretary is satisfied that the person is no longer a fit and proper person to audit a general purpose financial report. (5) A decision under subsection (4) is a decision reviewable under section 85‑1 of the Act. (6) Part 6.1 of the Act applies to a reviewable decision mentioned in subsection (5) as if a reference in that Part to this Act included a reference to these principles.