Corporate Law Economic Reform Program (Audit Reform and Corporate Disclosure) Act 2004 (103 of 2004)
Schedule 1 Audit Reform
Part 3 Auditor appointment, independence and rotation requirements
Corporations Act 2001
70 Section 9
Insert:
audit-critical employee , in relation to a company, or the responsible entity for a registered scheme, that is the audited body for an audit, means a person who:
(a) is an employee of the company or of the responsible entity for the registered scheme; and
(b) is able, because of the position in which the person is employed, to exercise significant influence over:
(i) a material aspect of the contents of the financial report being audited; or
(ii) the conduct or efficacy of the audit.