APES 350 Participation by Members in Public Practice In Due Diligence Committees in Connection with a Public Document

Content Summary

APES 350 Participation by Members in Public Practice in Due Diligence Committees in Connection with a Public Document sets out mandatory requirements and guidance for members in public practice when providing professional services to a client which comprise participating in or reporting to a Due Diligence Committee (DDC), as a DDC member, DDC observer or reporting person in connection with a public document.

APES 350 took effect on 1 January 2020 and was revised in November 2019. It requires members in public practice in Australia to adhere to its mandatory requirements when they provide professional services that involve participating in or reporting to a DDC in connection with a public document. Where the transaction is undertaken, in whole or in part, outside of Australia or is subject to international laws, members are required to adhere to the requirements of the standard provided that the laws and regulations of the relevant jurisdiction are not breached. For members in public practice outside of Australia the scope of APES 350 must be followed to the extent local laws and/or regulations are not contravened.
- definitions
- public interest
- professional appointments
- professional independence
- professional competence and due care
- confidentiality
- professional engagement and other matters
- materiality guidance
- documentation
- reporting
- professional fees
- conformity with international pronouncements