The Australian Securities and Investments Commission (ASIC) has provided revised guidance for individuals and companies seeking registration as a company auditor or an authorised audit company. To simplify the registration process for prospective auditors, they have located all their guidance about registration in one document - Regulatory Guide 180 “Auditor registration” (RG 180) (PDF).  
 
While the changes come into effect immediately, ASIC accepts that some applicants may have lodged an application that has not yet been decided, or may have completed an application but have not lodged it, on the basis of the previous guidelines. Refer to RG 180 for associated conditions.  
 
RG 180 specifies the evidence that must be provided to satisfy ASIC that an individual applicant meets the statutory requirements for registration as a registered company auditor.  
 
ASIC is unable to register an authorised audit company unless the company is owned and controlled by registered company auditors, the company has adequate professional indemnity insurance, and the company is not in external administration.  
 
This article has been taken from ANT43/2007 and is current at the date of publication (2 November 2007).