ASIC today released an updated Regulatory Guide 34 Auditors' obligation: Reporting to ASIC (RG 34).
The updated RG 34 continues to provide guidance on the legislative obligations of auditors of companies and registered schemes to report suspected contraventions of the Corporations Act 2001 to ASIC, and similar obligations under other legislation.
It also provides new examples of circumstances that may and may not require reporting to ASIC, and introduces guidance for auditors of credit licensee trust accounts.
In 2012, ASIC also issued an updated Regulatory Guide 180 Auditor registration (RG 180).
The main change to this guide was to include guidance on applications for the registration of New Zealand issuer auditors as registered company auditors under the Trans Tasman Mutual Recognition Act 1997.
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