79Independent financial auditor to audit Victorian Auditor-General's Office

79 Independent financial auditor to audit Victorian Auditor-General's Office

(1) On the recommendation of the Parliamentary Committee, a suitably qualified person may be appointed by resolution of the Legislative Council and Legislative Assembly as an independent financial auditor of the Victorian Auditor-General's Office other than the following—

(a) a person who has a conflict of interest by reason of being engaged by the Auditor-General under section 7;

(b) a person who has a conflict of interest by reason of holding a delegation from the Auditor-General under section 8;

(c) a person appointed under section 82 as the independent performance auditor of the Auditor-General and the Victorian Auditor-General's Office.

(2) The independent financial auditor—

(a) is appointed for a period not exceeding 4 years; and

(b) may be reappointed under this section; and

(c) is appointed on the terms and conditions and is entitled to the remuneration determined by the Parliamentary Committee; and

(d) in conducting the audit, must comply with directions as to the audit given by the Parliamentary Committee.

(3) Remuneration payable under the appointment is to be paid out of the Consolidated Fund which is to the necessary extent appropriated accordingly.

(4) The independent financial auditor must conduct an audit of the financial statements of the Victorian Auditor-General's Office at least once in each financial year.

(5) Subject to any directions given by the Parliamentary Committee, the independent financial auditor may exercise any powers of the Auditor-General under Part 7 to the extent necessary to conduct the independent financial audit as if a reference in that Part to the Auditor-General includes a reference to the independent financial auditor.

(6) The independent financial auditor may apply additional auditing and assurance standards applied by the Auditor-General under section 78(2) to the conduct of audits of the financial statements of the Victorian Auditor-General's Office.

S. 80 inserted by No. 12/2019 s. 9.