Under section 311 of the Corporations Act auditors are required to report any actual or suspected contraventions of the Act to:
A)the Financial Reporting Council.
B)the Auditing and Assurance Standards Board.
C)the Australian Securities and Investments Commission.
D)the Australian Securities Exchange.

Question

Quizplus · Accepted Answer

Under section 311 of the Corporations Act, auditors are required to report any actual or suspected contraventions of the Act to the Australian Securities and Investments Commission (ASIC). The ASIC is the regulator responsible for enforcing corporate and financial services laws to protect consumers, investors, and creditors. The Financial Reporting Council (FRC) is a separate body that oversees the accounting and auditing standards in Australia, while the Auditing and Assurance Standards Board develops and maintains the auditing and assurance standards. The Australian Securities Exchange provides a marketplace for trading securities in Australia but is not responsible for enforcing regulations.

Under Section 311 of the Corporations Act Auditors Are Required