309Auditor’s consent to appointment (cf Corporations Act s 328A)

309 Auditor’s consent to appointment (cf Corporations Act s 328A)

(1) A co-operative or the directors of a co-operative must not appoint an individual, firm or company as auditor of the co-operative unless that individual, firm or company:

(a) has consented, before the appointment, to act as auditor; and

(b) has not withdrawn that consent before the appointment is made;

and for the purposes of this section, a consent, or the withdrawal of a consent, must be given by written notice to the co-operative or the directors.

(2) A notice under subsection (1) given by a firm must be signed by a member of the firm who is a registered company auditor both:

(a) in the firm name; and

(b) in his or her own name.

(3) A notice under subsection (1) given by a company must be signed by a director or senior manager of the company both:

(a) in the company’s name; and

(b) in his or her own name.

(4) If a co-operative or the directors of a co-operative appoint an individual, firm or company as auditor of a co-operative in contravention of subsection (1):

(a) the purported appointment does not have any effect; and

(b) the co-operative is guilty of an offence.

Maximum penalty (for subsection (4)): $2,500.