Invitation to comment on proposed regulation amendment

Amendment of CATSI Regulations to recognise the Institute of Public Accountants

The Australian Government is currently considering an amendment to regulation 333 16.02(3) of the Corporations (Aboriginal and Torres Strait Islander) Regulations 2007 (CATSI Regulations) to include recognition of the Institute of Public Accountants (IPA).

This amendment would enable members and fellows of the IPA to undertake audits of certain small and medium sized Aboriginal and Torres Strait Islander corporations.

An exposure draft has been released for public comment.

Reasons for proposed amendment

The proposed amendment would bring the CATSI Regulations into line with other legislation.

Increasing the pool of eligible qualified accountants that can audit financial reports will provide small and medium sized corporations with greater choice for auditing services, particularly in remote and regional areas.

Invitation to comment

Comments on the proposed amendment of the regulation are invited from the public.

Submissions can be sent by email to info@oric.gov.au or posted to:

ORIC
PO Box 2029
WODEN ACT 2606

The deadline for public submissions to be received is 5pm (AEST) 28 May 2014.