An ASIC Registered Company Auditor (RCA) or an Authorised Audit Company may undertake an audit of the financial reports prepared under the Corporations Act 2001 of a public company, listed company, large charity, a company limited by guarantee, or where a registration requirement arises from a member or by an ASIC direction, a registered scheme, an Australian financial services (AFS) licence, a disclosing entity, an incorporated association, a large proprietary company or a small proprietary company (only if at least 5% of shareholders have given a direction to prepare a financial report and to have it audited). RCA or an Authorised Audit Company may also undertake an audit of the financial reports prepared under the ACNC Act of a not-for-profit entity.
Self-Managed Superannuation Fund Auditor
Under the Superannuation Industry (Supervision) Act 1994 (the SIS Act), all self-managed superannuation funds (SMSFs) must be audited annually by an approved SMSF auditor. An approved SMSF auditor is a person registered with ASIC under section 128B of the SIS Act.