22UBApplication to be accompanied by audit report

#### 22UB Application to be accompanied by audit report (1) The application must be accompanied by an audit report that complies with this regulation. (2) The audit report must be prepared by: (a) a person that is a registered company auditor under section 1280 of the Corporations Act 2001; or (b) a company that is an authorised audit company under section 1299C of the Corporations Act 2001; or (c) a registered greenhouse and energy auditor, within the meaning of the National Greenhouse and Energy Reporting Act 2007, who is registered as a Category 2 auditor under the National Greenhouse and Energy Reporting Regulations 2008. (3) The audit report must set out, under a separate heading from any limited assurance conclusion provided, the auditor’s reasonable assurance conclusion as to whether: (a) the activities set out in the application that are claimed to be an emissions‑intensive trade‑exposed activity comply, in all material respects, with each of the requirements in the description of the activity set out in Schedule 6; and (b) the application presents fairly, in all material respects, the amount or volume of the relevant product produced in each previous financial year that is relevant to the application in accordance with: (i) the requirements for that amount or volume set out in Schedule 6; and (ii) the measurement policies adopted and disclosed by the applicant in the application. (3A) For an application to which subregulation 22ZD(3) or (4) applies, the audit report must set out, under a separate heading from any reasonable assurance conclusion provided, the auditor’s limited assurance conclusion as to whether, based on the audit procedures performed, anything causes the auditor to believe that: (a) the applicant’s assumptions do not provide a reasonable basis for the preparation of the expected production amount or volume of the relevant product; and (b) the expected production is not properly prepared, in all material respects, on the basis of the assumptions described in the application; and (c) the expected production is not presented fairly, in all material respects, in accordance with the measurement policies adopted and disclosed by the applicant in the application. (4) The audit company or auditor mentioned in subregulation (2) must be independent of the applicant or applicants to the extent that a conflict of interest situation (within the meaning of the National Greenhouse and Energy Reporting Regulations 2008) does not arise in relation to the auditing of the application. (5) The person preparing the audit report must ensure that the audit to which the report relates is conducted in accordance with the relevant requirements for assurance engagements under: (a) subject to regulation 22UC, the National Greenhouse and Energy Reporting (Audit) Determination 2009; or (b) if a registered company auditor or authorised audit company is not a registered greenhouse and energy auditor, and does not wish to use the requirements in that instrument: (i) ASAE 3000, Assurance Engagements Other than Audits or Reviews of Historical Financial Information, issued by the Auditing and Assurance Standards Board; and (ii) any other relevant auditing standard issued by the Auditing and Assurance Standards Board.