(1) An auditor is disqualified from auditing the trust accounts of an agency if, at any time, either or both of the following apply:
(2) A conflict of interest exists if—
(e) the auditor, or any employee of the auditor, is, or at any time within the immediately preceding 12 months has been, engaged in processing or recording transactions relating to the agency:
(3) Nothing in subclause (1) or (2) prevents an auditor or employee of an auditor from completing for an agency—
(4) If the Authority becomes aware, other than by means of a notice from the agency under regulation 13(1), that the auditor is disqualified from auditing the accounts of the agency, the Authority must give notice to the agency and to the auditor that the auditor is disqualified from auditing the agency's accounts.
(5) To avoid doubt, an auditor is disqualified under subclause (1) regardless of whether notice is given under subclause (4).
Regulation 11 heading: replaced, on 1 April 2014, by regulation 6(1) of the Real Estate Agents (Audit) Amendment Regulations 2014 (LI 2014/28).
Regulation 11(1): replaced, on 1 April 2014, by regulation 6(2) of the Real Estate Agents (Audit) Amendment Regulations 2014 (LI 2014/28).
Regulation 11(4): amended, on 1 April 2014, by regulation 6(3) of the Real Estate Agents (Audit) Amendment Regulations 2014 (LI 2014/28).
Regulation 11(5): inserted, on 1 April 2014, by regulation 6(4) of the Real Estate Agents (Audit) Amendment Regulations 2014 (LI 2014/28).