The CLERP 9 changes have brought in a declaration by the auditor that he or she is independent in Section 307C. The auditor must state that to the best of his or her knowledge or belief, there have been no contraventions of the auditor independence requirements of the Corporations Act or of any applicable code of professional conduct in relation to the audit. Under Section 298(1)(c) and Section 306(2), a copy of the declaration must be included in the directors' report. These sections apply to all companies that require an audit under Chapter 2M for financial years beginning on or after 1 July 2004. 
 

• ASIC Provides Relief on Auditor’s Independence Declarations 
   
  
• Suggested wording for a ‘declaration of independence’ by the auditor to the client – contained in AAA 11 ‘Communicating with Entities in Relation to Auditor Independence’ (May 2002) 
   
  
• Code of Ethics for Professional Accountants, Section 290 (formerly Professional Statement F1 Independence (Appendix 4)) and audit's independence declaration