Corporations Regulations 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

PART 7.8 - OTHER PROVISIONS RELATING TO CONDUCT ETC CONNECTED WITH FINANCIAL PRODUCTS AND FINANCIAL SERVICES, OTHER THAN FINANCIAL PRODUCT DISCLOSURE  

Division 6 - Financial records, statements and audit  

Subdivision C - Financial statements of financial services licensees  

REGULATION 7.8.13   AUDITOR ' S REPORT WITH ANNUAL PROFIT AND LOSS STATEMENT AND BALANCE SHEET  

7.8.13(1)    

For subparagraph 989B(3)(b)(ii) or paragraph 989B(3)(c) of the Act, an auditor ' s report lodged with a true and fair profit and loss statement and balance sheet in respect of a financial year must be lodged with ASIC in the prescribed form.

7.8.13(2)    

For subparagraph 989B(3)(b)(ii) or paragraph 989B(3)(c) of the Act, an auditor ' s report lodged with a true and fair profit and loss statement and balance sheet in respect of a financial year must contain a statement of the auditor ' s opinion on the following matters:

(a)    

the effectiveness of internal controls used by a financial services licensee to comply with:

(i) Divisions 2 , 3 , 4 , 4A , 5 and 6 of Part 7.8 of the Act; and

(ii) Division 7 of Part 7.8 of the Act other than section 991A ;

(b)    whether each account required by sections 981B and 982B of the Act to be maintained by the financial services licensee has been operated and controlled in accordance with those sections;

(c)    whether all necessary records, information and explanations were received from the financial services licensee.