sec.47JAudit [SM, s 155 ]

### sec.47J Audit [SM, s 155 ] The principal body corporate must have its statement of accounts for each financial year of the body corporate audited by an auditor. The auditor to be appointed must be agreed to by ordinary resolution of the principal body corporate. The motion for agreeing to the auditor to be appointed— must be included in the agenda for the general meeting where the motion is to be considered; and must include the name of the auditor proposed to be appointed. Also, the body corporate may, by ordinary resolution— resolve to have its accounting records audited for a particular period or a particular project; and appoint an auditor for the audit. A member of the executive committee, the body corporate manager, or an associate of a member of the executive committee or body corporate manager, can not be appointed to audit the accounting records or the statement of accounts of the principal body corporate. On finishing an audit of the principal body corporate’s statement of accounts for a financial year, the auditor must give a certificate— stating whether the statement of accounts gives a true and fair view of the principal body corporate’s financial affairs; and if the statement of accounts does not give a true and fair view of the principal body corporate’s financial affairs—identifying the deficiencies in the statement. A copy of the auditor’s certificate must accompany the notice of the next annual general meeting held after the certificate is given. In this section— auditor means— a person who is a registered company auditor; or a person who— is a member of— CPA Australia and entitled to use the letters ‘CPA’ or ‘FCPA’; or the Institute of Chartered Accountants in Australia and entitled to use the letters ‘CA’ or ‘FCA’; or the Institute of Public Accountants and entitled to use the letters ‘MIPA’ or ‘FIPA’; and has a total of 2 years auditing experience, whether or not continuous. s 47J ins 2009 No. 26 s 86 amd 2013 No. 39 s 43 sch 1 (sec.47J-ssec.1) The principal body corporate must have its statement of accounts for each financial year of the body corporate audited by an auditor. (sec.47J-ssec.2) The auditor to be appointed must be agreed to by ordinary resolution of the principal body corporate. (sec.47J-ssec.3) The motion for agreeing to the auditor to be appointed— must be included in the agenda for the general meeting where the motion is to be considered; and must include the name of the auditor proposed to be appointed. (sec.47J-ssec.4) Also, the body corporate may, by ordinary resolution— resolve to have its accounting records audited for a particular period or a particular project; and appoint an auditor for the audit. (sec.47J-ssec.5) A member of the executive committee, the body corporate manager, or an associate of a member of the executive committee or body corporate manager, can not be appointed to audit the accounting records or the statement of accounts of the principal body corporate. (sec.47J-ssec.6) On finishing an audit of the principal body corporate’s statement of accounts for a financial year, the auditor must give a certificate— stating whether the statement of accounts gives a true and fair view of the principal body corporate’s financial affairs; and if the statement of accounts does not give a true and fair view of the principal body corporate’s financial affairs—identifying the deficiencies in the statement. (sec.47J-ssec.7) A copy of the auditor’s certificate must accompany the notice of the next annual general meeting held after the certificate is given. (sec.47J-ssec.8) In this section— auditor means— a person who is a registered company auditor; or a person who— is a member of— CPA Australia and entitled to use the letters ‘CPA’ or ‘FCPA’; or the Institute of Chartered Accountants in Australia and entitled to use the letters ‘CA’ or ‘FCA’; or the Institute of Public Accountants and entitled to use the letters ‘MIPA’ or ‘FIPA’; and has a total of 2 years auditing experience, whether or not continuous. - (a) must be included in the agenda for the general meeting where the motion is to be considered; and - (b) must include the name of the auditor proposed to be appointed. - (a) resolve to have its accounting records audited for a particular period or a particular project; and - (b) appoint an auditor for the audit. - (a) stating whether the statement of accounts gives a true and fair view of the principal body corporate’s financial affairs; and - (b) if the statement of accounts does not give a true and fair view of the principal body corporate’s financial affairs—identifying the deficiencies in the statement. - (a) a person who is a registered company auditor; or - (b) a person who— (i) is a member of— (A) CPA Australia and entitled to use the letters ‘CPA’ or ‘FCPA’; or (B) the Institute of Chartered Accountants in Australia and entitled to use the letters ‘CA’ or ‘FCA’; or (C) the Institute of Public Accountants and entitled to use the letters ‘MIPA’ or ‘FIPA’; and (ii) has a total of 2 years auditing experience, whether or not continuous. - (i) is a member of— (A) CPA Australia and entitled to use the letters ‘CPA’ or ‘FCPA’; or (B) the Institute of Chartered Accountants in Australia and entitled to use the letters ‘CA’ or ‘FCA’; or (C) the Institute of Public Accountants and entitled to use the letters ‘MIPA’ or ‘FIPA’; and - (A) CPA Australia and entitled to use the letters ‘CPA’ or ‘FCPA’; or - (B) the Institute of Chartered Accountants in Australia and entitled to use the letters ‘CA’ or ‘FCA’; or - (C) the Institute of Public Accountants and entitled to use the letters ‘MIPA’ or ‘FIPA’; and - (ii) has a total of 2 years auditing experience, whether or not continuous. - (i) is a member of— (A) CPA Australia and entitled to use the letters ‘CPA’ or ‘FCPA’; or (B) the Institute of Chartered Accountants in Australia and entitled to use the letters ‘CA’ or ‘FCA’; or (C) the Institute of Public Accountants and entitled to use the letters ‘MIPA’ or ‘FIPA’; and - (A) CPA Australia and entitled to use the letters ‘CPA’ or ‘FCPA’; or - (B) the Institute of Chartered Accountants in Australia and entitled to use the letters ‘CA’ or ‘FCA’; or - (C) the Institute of Public Accountants and entitled to use the letters ‘MIPA’ or ‘FIPA’; and - (ii) has a total of 2 years auditing experience, whether or not continuous. - (A) CPA Australia and entitled to use the letters ‘CPA’ or ‘FCPA’; or - (B) the Institute of Chartered Accountants in Australia and entitled to use the letters ‘CA’ or ‘FCA’; or - (C) the Institute of Public Accountants and entitled to use the letters ‘MIPA’ or ‘FIPA’; and