The Corporations Act requires that auditors are competent. To be suitably qualified the person must:
A) be a member of the ICAA, CPA Australia, the National Institute of Accountants or other prescribed body.
B) hold a degree, diploma or certificate from a university or other prescribed body.
C) be a fit and proper person to be registered as an auditor.
D) all of the above.

Question

Quizplus · Accepted Answer

The Corporations Act stipulates that auditors must meet several qualifications to ensure their competence. These include being a member of a recognized professional accounting body, holding a relevant degree or certification, and being considered a fit and proper person for the role. Therefore, all the options listed (A, B, and C) are requirements, making D the correct choice.

The Corporations Act Requires That Auditors Are Competent