According to the Corporations Act, an External Auditor Must

question 78

Multiple Choice

According to the Corporations Act, an external auditor must:

• A) have appropriate tertiary qualifications.
• B) satisfy ASIC that he/she is capable of performing the duties of an auditor.
• C) satisfy ASIC that he/she is a fit and proper person to be registered as an auditor.
• D) all of the above.

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Definitions:

Access to Information

Access to information denotes the ease with which individuals can obtain data, knowledge, and insights necessary for making decisions or understanding subjects.

Discretionary Responsibility

The ethical or societal obligation of a company to make decisions and take actions that will benefit the interests of society as well as the organization.

Corporate Social Responsibility

The practice of businesses taking responsibility for their impact on society and the environment, beyond regulatory compliance and profit-making.

Economic Requirements

The financial needs or conditions necessary to sustain or initiate a business, project, or standard of living.