- copies of academic qualifications not being certified as true and correct copies by a Justice of the Peace, Commissioner of Declarations, solicitor or barrister
- supervisor and capability declarations on each page by the declarant and witness.
To assist applicants, the ASIC Regulatory Guide 180 Auditor Registration, a registration checklist and sample documents appear on the ASIC website.
Other forms
All RCAs must lodge a Form 912A Annual Statement by an Auditor with ASIC within one month after the end of the each 12-month anniversary of their registration. RCAs may have their registration cancelled or suspended if they do not lodge annual returns.
RCAs are required to notify ASIC of changes to their details by lodging a Form 905 Notification of ceasing to practise as, or change to details of, an auditor or authorised audit company. Individuals must lodge the form within 21 days of a change.
Both forms can be lodged electronically or in paper form.
Resigning from audits
Resigning as auditor of certain entities requires ASIC consent. Again, lodging complete information will simplify the process.
Auditors seeking ASIC’s consent to resign as auditor of a public company should ensure Form 342 Application for consent to resign as auditor is lodged early in order to be assessed in time. ASIC will normally only consent to resignation at the AGM to ensure that the auditor’s independence is protected and that an effective audit can be conducted by the incoming auditor. Consent will be given to resignation at other times only in exceptional circumstances.
The auditor of a proprietary company can resign by simply giving the company notice of their resignation.
Within 14 days after the receipt of a notice of resignation from an auditor, both public and proprietary companies must lodge with ASIC a Form 315 Notification of resignation, removal or cessation of auditor. See Regulatory Guide 26 Resignation of Auditors (RG26) and Information Sheet 65 Resignation of an auditor under the Corporations Act 2001.
Registered schemes
ASIC expects that resignation as scheme and compliance plan auditors will take effect one month after the audit report is lodged, unless exceptional circumstances exist.
To meet the timeframe, applications should be made before lodging the audit report for the prior year. RG26 explains what may constitute exceptional circumstances.
There is no ASIC form and so a letter applying for consent to resign as a compliance plan auditor should be sent to ASIC. For the scheme financial report audit, Form 5132 Application for consent from ASIC for resignation or removal of scheme auditor should be used.
Within 14 days after the receipt of a notice of resignation from an auditor of a registered scheme, the responsible entity must lodge with ASIC a Form 5133 Notification of resignation, removal or cessation of a registered scheme auditor.
See Regulatory Guide 136 Managed Investments: Discretionary powers and closely related schemes and Information Sheet 64 Resignation and removal of auditors of registered schemes or compliance plans.
Australian Financial Services (AFS) Licensees
An auditor of an AFS licensee may, by written notice given to the licensee, resign as auditor of the licensee and notify ASIC by completing and lodging Form FS08 Application for consent to resign as an auditor of an Australian financial services licensee.
The auditor of a public company licensee will also need to apply to resign as auditor of the company, even though the audit is conducted by the same person/firm.
Consent
ASIC consent to the resignation of an auditor should not be assumed, and the outgoing auditor must continue to act as auditor until consent has been received.
Incoming auditors should ensure that all resignation and appointment documents have been lodged and consent granted before undertaking any audit work.
