77Threshold audits

#### 77 Threshold audits (1) An eligible offsets project must be audited if the carbon dioxide equivalent net abatement amount for a reporting period for the project is greater than: (a) 250 000 tonnes of carbon dioxide equivalent; or (b) a trigger audit threshold for the project. (2) The audit (the threshold audit) must be about: (a) whether, in all material respects, the offsets report about the project for the reporting period has been prepared in accordance with section 76 of the Act; and (b) any other aspect of the project notified in writing by the Regulator. (3) The report of the audit must accompany the offsets report for the reporting period. Threshold audit may replace subsequent audit (4) If a threshold audit is undertaken for a project in accordance with section 80, and the report of the audit meets the eligibility requirements set out in subsection 9(2), the Regulator may remove a subsequent audit from the audit schedule for the project. (5) In deciding whether or not to remove a subsequent audit because of the threshold audit, the Regulator must have regard to the following: (a) the number of audits that have been undertaken in relation to the project; (b) the scope of those audits; (c) the results of those audits; (d) the number of subsequent audits remaining for the project.