Corporations Act 2001

CHAPTER 2M - FINANCIAL REPORTS AND AUDIT  

PART 2M.4A - ANNUAL TRANSPARENCY REPORTS FOR AUDITORS  

SECTION 332F   EXEMPTION ORDERS - CRITERIA FOR ORDERS  

332F(1)    
To make an order under section 332D or 332E exempting a transparency reporting auditor, or class of transparency reporting auditors, from one or more requirements of sections 332A and 332B , ASIC must be satisfied that complying with the requirements would:

(a) be inappropriate in the circumstances; or

(b) impose unreasonable burdens.

332F(2)    
In deciding for the purposes of subsection (1) whether complying with the requirements would impose an unreasonable burden on the auditor or class of auditors, ASIC is to have regard to:

(a) the expected costs of complying with the requirements; and

(b) the expected benefits of having the auditor or class of auditors comply with the requirements; and

(c) any practical difficulties that the auditor or class of auditors faces in complying effectively with the requirements; and

(d) any unusual aspects of the operations of the auditor or class of auditors; and

(e) any other matters that ASIC considers relevant.