sec.18Auditor to make unannounced examinations

### sec.18 Auditor to make unannounced examinations An auditor appointed under section 14 shall once at least during every financial period (not being a period of less than 6 months’ duration) make an unannounced examination of the accounting and other records kept by the trustee in pursuance of section 6 and the trust accounts of the trustee kept by the trustee in pursuance of section 7 . If the auditor is of opinion that the results of the examination are such that the auditor should take action in compliance with section 17 the auditor shall take such action accordingly but in any other case the auditor shall include in the auditor’s report for the relevant financial period given to the supervising entity a statement that an unannounced examination has been made on a stated date. If an auditor or trustee is of the opinion that it is impracticable or unduly onerous to make an unannounced examination in any financial period in accordance with subsection (1) , the auditor or trustee shall furnish to the supervising entity a statement in writing setting out the reasons as soon as practicable after the commencement of that financial period. Maximum penalty—50 penalty units. The supervising entity may, if it considers it appropriate after consideration of the statement from the auditors or trustee furnished in pursuance of subsection (3) , exempt the auditor from making such unannounced examination. s 18 amd 1990 No. 80 s 3 sch 1 ; 1997 No. 55 s 16 (sec.18-ssec.1) An auditor appointed under section 14 shall once at least during every financial period (not being a period of less than 6 months’ duration) make an unannounced examination of the accounting and other records kept by the trustee in pursuance of section 6 and the trust accounts of the trustee kept by the trustee in pursuance of section 7 . (sec.18-ssec.2) If the auditor is of opinion that the results of the examination are such that the auditor should take action in compliance with section 17 the auditor shall take such action accordingly but in any other case the auditor shall include in the auditor’s report for the relevant financial period given to the supervising entity a statement that an unannounced examination has been made on a stated date. (sec.18-ssec.3) If an auditor or trustee is of the opinion that it is impracticable or unduly onerous to make an unannounced examination in any financial period in accordance with subsection (1) , the auditor or trustee shall furnish to the supervising entity a statement in writing setting out the reasons as soon as practicable after the commencement of that financial period. Maximum penalty—50 penalty units. (sec.18-ssec.4) The supervising entity may, if it considers it appropriate after consideration of the statement from the auditors or trustee furnished in pursuance of subsection (3) , exempt the auditor from making such unannounced examination.