sec.59ACParticular persons may not prepare audit report or verification statement

### sec.59AC Particular persons may not prepare audit report or verification statement A person must not audit a financial statement for an incorporated association under section 59AA , or prepare a verification statement for an incorporated association under section 59AB (3) (a) , if the person is— the secretary, or a member of the management committee, of the association; or an employee of the association; or a partner, employer or employee of the secretary, or a partner, employer or employee of a member of the management committee, of the association; or a spouse of a person mentioned in paragraph (a) , (b) or (c) ; or wholly or partly dependent on a person mentioned in paragraph (a) , (b) or (c) . Maximum penalty—10 penalty units. A person who is a partner in an unincorporated body must not audit a financial statement for an incorporated association under section 59AA , or prepare a verification statement for an incorporated association under section 59AB (3) (a) , if subsection (1) prohibits any of the partners of the unincorporated body from auditing the financial statement, or preparing the verification statement. Maximum penalty—10 penalty units. A and B are partners in an accounting firm. A is a member of the association’s management committee. A can not conduct an audit because of subsection (1) . B also can not conduct an audit because of subsection (2) . s 59AC ins 2020 No. 17 s 22 (sec.59AC-ssec.1) A person must not audit a financial statement for an incorporated association under section 59AA , or prepare a verification statement for an incorporated association under section 59AB (3) (a) , if the person is— the secretary, or a member of the management committee, of the association; or an employee of the association; or a partner, employer or employee of the secretary, or a partner, employer or employee of a member of the management committee, of the association; or a spouse of a person mentioned in paragraph (a) , (b) or (c) ; or wholly or partly dependent on a person mentioned in paragraph (a) , (b) or (c) . Maximum penalty—10 penalty units. (sec.59AC-ssec.2) A person who is a partner in an unincorporated body must not audit a financial statement for an incorporated association under section 59AA , or prepare a verification statement for an incorporated association under section 59AB (3) (a) , if subsection (1) prohibits any of the partners of the unincorporated body from auditing the financial statement, or preparing the verification statement. Maximum penalty—10 penalty units. A and B are partners in an accounting firm. A is a member of the association’s management committee. A can not conduct an audit because of subsection (1) . B also can not conduct an audit because of subsection (2) . - (a) the secretary, or a member of the management committee, of the association; or - (b) an employee of the association; or - (c) a partner, employer or employee of the secretary, or a partner, employer or employee of a member of the management committee, of the association; or - (d) a spouse of a person mentioned in paragraph (a) , (b) or (c) ; or - (e) wholly or partly dependent on a person mentioned in paragraph (a) , (b) or (c) .