sec.303Carrying out of audit

### sec.303 Carrying out of audit An approved accountant carrying out an audit for section 302 (1) or (2) must— to the extent it is reasonably practicable, comply with any licensees audit guidelines; and complete the audit within 3 months after the end of the financial year or other period to which the audit relates; and immediately after completing the audit, give a copy of the audit report to the category 2 licensee or former licensee. Maximum penalty—40 penalty units. Subsection (1) (b) does not apply to the approved accountant if— in the circumstances, it would be unreasonable to require the accountant to comply with the paragraph; and the accountant completes the audit as soon as practicable. s 303 prev s 303 ins 1997 No. 24 s 42 om 1999 No. 8 s 99 pres s 303 ins 1999 No. 77 s 124 (sec.303-ssec.1) An approved accountant carrying out an audit for section 302 (1) or (2) must— to the extent it is reasonably practicable, comply with any licensees audit guidelines; and complete the audit within 3 months after the end of the financial year or other period to which the audit relates; and immediately after completing the audit, give a copy of the audit report to the category 2 licensee or former licensee. Maximum penalty—40 penalty units. (sec.303-ssec.2) Subsection (1) (b) does not apply to the approved accountant if— in the circumstances, it would be unreasonable to require the accountant to comply with the paragraph; and the accountant completes the audit as soon as practicable. - (a) to the extent it is reasonably practicable, comply with any licensees audit guidelines; and - (b) complete the audit within 3 months after the end of the financial year or other period to which the audit relates; and - (c) immediately after completing the audit, give a copy of the audit report to the category 2 licensee or former licensee. - (a) in the circumstances, it would be unreasonable to require the accountant to comply with the paragraph; and - (b) the accountant completes the audit as soon as practicable.