246ROffences relating to audit information

246R Offences relating to audit information

246R Offences relating to audit information

(1) A person who provides information to an auditor in connection with a mandatory audit, knowing the information to be false or misleading in a material respect, is guilty of an offence.

(2) The holder of an authorisation who fails to provide information to an auditor in connection with a mandatory audit being carried out in relation to the authorisation, knowing the information to be materially relevant to the audit, is guilty of an offence.

(3) An auditor who includes information in an audit report produced to the Secretary in connection with a mandatory audit, knowing the information to be false or misleading in a material respect, is guilty of an offence.

(4) An auditor who fails to provide information in an audit report produced to the Secretary in connection with a mandatory audit, knowing the information to be materially relevant to the audit, is guilty of an offence.

(5) The holder of an authorisation who—

(a) fails to retain any written documentation required to be prepared by the holder in connection with a mandatory audit for a period of at least 5 years after the audit report concerned was produced to the Secretary (or such other period as is prescribed by the regulations), or

(b) fails to produce during that period any such documentation to the Secretary on request,

is guilty of an offence.

Maximum penalty—

(a) in the case of a corporation—1,000 penalty units, or

(b) in the case of a natural person—500 penalty units.

ss 246Q–246U: Ins 2008 No 19, Sch 1 [213].