1ASIC Corporations (Auditor Independence) Instrument 2021/75

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ASIC Corporations (Auditor Independence) Instrument 2021/75

About this compilation

Compilation No. 2

This is a compilation of ASIC Corporations (Auditor Independence) Instrument 2021/75 as in force on 23 March 2024. It includes any commenced amendment affecting the legislative instrument to that date.

This compilation was prepared by the Australian Securities and Investments Commission.

The notes at the end of this compilation (the endnotes) include information

about amending instruments and the amendment history of each amended provision.

Contents

Part 1—Preliminary

1 Name of legislative instrument

3 Authority

4 Definitions

Part 2—Order

5 Auditor’s independence declaration

Part 3—Repeal

6 Repeal

Endnotes

Endnote 1—Instrument history

Endnote 2—Amendment history

Part 1—Preliminary

1 Name of legislative instrument

This is the ASIC Corporations (Auditor Independence) Instrument 2021/75.

3 Authority

This instrument is made under subsection 341(1) of the Corporations Act 2001.

4 Definitions

In this instrument:

Act means the Corporations Act 2001.

audit engagement team, in relation to an audit or review of a financial report of a relevant entity for a relevant period, means the persons performing work on the audit or review of the financial report of the relevant entity for the relevant period.

Code means the APES 110 Code of Ethics for Professional Accountants (including Independence Standards) as in force as at the date of this instrument.

control has the same meaning as in accounting standard AASB 10 Consolidated financial statements.

controlled entity, in relation to a relevant entity for a relevant period, means an entity controlled by the relevant entity during or since the relevant period.

engagement partner has the meaning given by the Code.

financial interest means:

(a) a ‘direct financial interest’ within the meaning of the Code; or