"Corporations Act 2001 s 311 auditor ASIC notice of contraventions"
Corporations Act 2001 (Cth) s 311 requires auditors and lead auditors to notify ASIC within 28 days about specified significant contraventions, audit influence attempts, or interference with audits.
This is a human-established fact, not a universal axiom. It is true within CTH as enacted by Federal Register of Legislation.
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Answer
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Verified against the current Federal Register text of the Corporations Act 2001 (Cth). Section 311 requires individual auditors, audit companies through their lead auditor, audit firm members in specified registrable-superannuation-entity cases, and lead auditors to notify ASIC in writing as soon as practicable and within 28 days about specified audit circumstances. For audits other than registrable superannuation entity audits, the trigger includes awareness of circumstances reasonably suspected to be a significant contravention of the Act, or circumstances involving attempts to unduly influence, coerce, manipulate, mislead, or otherwise interfere with the audit. For registrable superannuation entity audits, the trigger is reasonable suspicion of circumstances amounting to a contravention of the Act. The section also defines significant contraventions by reference to penalties, effects on financial position or information adequacy, and other relevant matters, and includes offence and strict-liability provisions for specified RSE contraventions.
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