49DQualifications as an independent auditor

49D Qualifications as an independent auditor

49D Qualifications as an independent auditor

(1) A person is not qualified to be an auditor of a pre-paid funeral fund unless the person is—

(a) a registered company auditor, or

(b) an authorised audit company.

(2) An auditor of a pre-paid funeral fund is not an independent auditor—

(a) if (otherwise than as an auditor) the person is an officer or employee of the fund, or

(b) if the person is a partner, employer or employee of a person who is (otherwise than as an auditor) an officer or employee of the fund.

(3) Appointment as the public officer of a pre-paid funeral fund for the purposes of any law relating to taxation does not in itself render a person unqualified to be an independent auditor of the fund.

(4) In this section—

authorised audit company has the same meaning as in the Corporations Act 2001 of the Commonwealth.

registered company auditor has the same meaning as in the Corporations Act 2001 of the Commonwealth.

s 49D: Ins 2003 No 61, Sch 1 [35]. Am 2021 No 23, Sch 1.9[1] [2].