Transition for logbooks for RCA application under RG 180
In June 2016, the Australian Securities and Investments Commission (ASIC) issued the current RG 180 Auditor Registration, including the logbook (Document E in RG 180) and approved the Auditing competency standard for registered company auditors (2016). RG 180 provides a year transition period for the logbook. The 2014 logbook can only be used for RCA applications prior to 1 July 2017.
CPA Australia have issued this guidance to assist auditors who have been using the 2004 logbook and will not be able to lodge their RCA application by 30 June 2017.
Guidance: Transition for logbooks for RCA application under RG 180 Auditor Registration (2016) (PDF)
Registered company auditor competency standards
An auditor can become a registered company auditor by demonstrating compliance with the approved audit competency standard: Auditing Competency Standard (PDF).
CPA Australia, Chartered Accountants Australia and New Zealand and the Institute of Practicing Accountants worked with ASIC for some time to have the draft audit competency standard approved and adopted. ASIC and the professional bodies work together to make the standard operational.
Before registering as an individual auditor or authorised audit company, ASIC recommends first reading Regulatory Guide 180: Auditor registration.
Download the log book (PDF) to record achievement of the required competencies by task and activity combination and the assessor’s competency verification to register as a company auditor.
Self-managed superannuation fund auditor competency requirements
Updated competency requirements for review engagements
This publication will help ensure Members undertaking review engagements have the required competencies. It is a joint publication by CPA Australia, the Institute of Chartered Accountants Australia and the Institute of Public Accountants.
Since the introduction of a review requirement for second-tier companies limited by guarantee to the Corporations Act 2001, similar requirements have been introduced into other legislation. This affects tier two charities registered with the Australian Charities and Not-for-profits Commission and tier two Victorian incorporated associations.
In some cases, the requirement to hold a Public Practice Certificate no longer applies.
The revised requirements are effective from 1 October 2013.