72Guidelines

72 Guidelines

72 Guidelines

(1) The regulator must develop guidelines about how the regulator proposes to conduct performance audits of entities under the Act, section 67(1) (the guidelines).

(2) The guidelines must include the following—

(a) guidance on how the auditor may—

(i) give notice of an audit, and

(ii) consult on the scope of an audit, and

(iii) consult the audit subject on adverse comments or findings proposed to be included in an audit report, and

(iv) audit more than 1 audit subject at the same time,

(b) examples of what may—

(i) constitute incompetence, misconduct or incapacity on the part of the audit subject, or

(ii) compromise the ability of an audit subject to effectively carry out its functions,

(c) guidance on the roles and responsibilities of the auditor and the audit subject.

(3) The guidelines may include other matters the regulator considers appropriate.

(4) In developing or reviewing the guidelines, the regulator must—

(a) consult the Minister and audit subjects, and

(b) consider the submissions made.

(5) The guidelines must be published on the regulator’s website.

(6) The regulator must publish the guidelines under this clause before undertaking the first performance audit under this part.

cl 72: Ins 2023 (601), Sch 1[2].