7BAuditors

#### 7B Auditors 7B Auditors > > (1) The financial statements in respect of a particular financial year must be audited— > > > > > (a) by a public sector auditor; or > > > > > (b) with the approval of the responsible Ministers—by an appropriately qualified auditor. > > > (2) A person (other than a public sector auditor) must not audit the financial statements in respect of a particular financial year unless the person has been approved to do so by the responsible Ministers. > > > (3) An auditor who has been approved by the responsible Ministers to audit the financial statements in respect of a particular financial year must satisfy the Regulator that the auditor has indeed been so approved. > > > (4) In this regulation— > > > > appropriately qualified auditor means a registered company auditor who— > > > > > (a) is a member of CPA Australia entitled to use the letters “CPA” or “FCPA” and who holds a current practice certificate issued by CPA Australia; or > > > > > (b) is a member of the Institute of Chartered Accountants in Australia entitled to use the letters “CA” or “FCA” and who holds a current certificate of public practice issued by the Institute; or > > > > > (c) is a member of the Institute of Public Accountants entitled to use the letters “MIPA” or “FIPA” and who holds a professional practice certificate issued by the Institute. > > **pt 1A (Regs 7A–7D):** Ins 2019 (263), reg 4.