To Be Appointed as the Auditor of a Corporation Under

question 58

Multiple Choice

To be appointed as the auditor of a corporation under the Corporations Act 2001, the relevant person must be a registered company auditor or an authorised audit company. The criteria for registration by ASIC include:

• A) An individual must satisfy requirements in relation to his or her educational qualifications.
• B) Established in s. 1280 of the Corporations Act.
• C) An individual must satisfy requirements in relation to his or her character.
• D) All of the above

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Definitions:

Irresistible Impulse Rule

A legal defense theory that argues a defendant was compelled by an uncontrollable impulse to perform an illegal act, as a result of mental illness, and therefore should not be held accountable.

M'Naghten Rule

A legal standard used to determine criminal liability, which states that a defendant cannot be found guilty if, at the time of the crime, they were so afflicted by a mental disease that they did not know the nature of the act or could not distinguish right from wrong.

Guilty Mind

A legal concept indicating that a person was aware of the wrongfulness of their actions at the time they committed a crime.

Psychoses

Severe mental disorders characterized by a disconnection from reality, which might include delusions and hallucinations.