Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) This section applies if the audit of a financial report is required to be conducted in accordance with the auditing standards.
(2) If an individual auditor, or an audit company, conducts the audit of the financial report, the individual auditor or audit company must conduct the audit in accordance with the auditing standards.
(3) If an audit firm, or an audit company, conducts the audit of the financial report, the lead auditor for the audit must ensure that the audit is conducted in accordance with the auditing standards.
(4) An offence against subsection (2) or (3) is an offence of strict liability.
Note: For strict liability , see section 6.1 of the Criminal Code .