70BDefinitions—pt 5

70B Definitions—pt 5 auditor, of an association’s statement of accounts, means a person who— (a) is not a member or officer of the association; and (b) has not prepared or assisted with the preparation of the accounts; and (c) is either— (i) registered as an auditor under the Corporations Act; or (ii) a member of the Institute of Chartered Accountants in Australia, the Institute of Public Accountants, or CPA Australia. large association, for a financial year, means an association that has a total revenue for the financial year of $1 000 000 or more. medium association, for a financial year, means an association that has a total revenue for the financial year of $400 000 or more but less than $1 000 000. required statement means a statement of accounts— (a) for a small association—reviewed in accordance with section 75; or (b) for a medium association—reviewed or audited in accordance with section 75; or

(c) for a large association—audited in accordance with section 76. reviewer, of an association’s statement of accounts, means a person who— (a) is not an officer of the association; and (b) has not prepared or assisted with the preparation of the accounts. small association, for a financial year, means an association that has a total revenue for the financial year of less than $400 000.