Authorising individuals as external auditors
Subsection 164(1) of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act) empowers the AUSTRAC Chief Executive Officer (CEO) to authorise a specified individual to be an external auditor for the purposes of the AML/CTF Act, in particular subsections 161(2) and 162(2).
Notices given under subsections 161(2) and 162(2) of the AML/CTF Act require a reporting entity to appoint an external auditor. Only authorised external auditors can be appointed by reporting entities that are given notices under subsections 161(2) and 162(2) of the AML/CTF Act.
AUSTRAC has developed a policy statement on authorising external auditors in order to provide guidance as well as transparency and accountability in how authorisation of individuals as external auditors will be conducted by the AUSTRAC CEO. This policy outlines the qualifications and experience the AUSTRAC CEO expects external auditors to possess, with the required personal characteristics the individuals will be required to demonstrate to satisfy the AUSTRAC CEO that they are fit and proper persons for undertaking the responsibilities of an external auditor.
Authorised external auditors policy: External auditors authorised under subsection 164(1) of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Word, 569KB)
How to be authorised as an external auditor
Individuals who wish to apply to be authorised as an external auditor must complete the application form and statutory declaration.
The application form is available as a Word document as part of the above policy.
Applications to be authorised as an external auditor should be sent to: email@example.com
AUSTRAC accepts applications to be authorised as an external auditor throughout the year but will only assess the applications on an annual basis. Please note that AUSTRAC's current intention is that authorisations will be revoked after two years. Prior to the end of the two-year period, the relevant authorised individuals wil be invited to apply to be re-authorised.
Please note: Applications by individuals not currently authorised are assessed annually and close on 30 April of each year.
External auditors who are authorised under the AML/CTF Act
A list of the names and contact details of individuals who have been authorised as external auditors is published below.
External auditors authorised under subsection 164(1) of the AML/CTF Act - updated 19 December 2013 (PDF, 39KB)