Authorised external auditors

Authorising individuals as external auditors

Subsection 164(1) of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (the AML/CTF Act) empowers the AUSTRAC Chief Excecutive Officer (CEO) to authorise a specified individual to be an external auditor for the purposes of the AML/CTF Act, in particular for the purpose of subsections 161(2) and 162(2).

Notices given under subsection 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 pursuant to 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, together 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.

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 which is the second part of the authorised external auditors policy document above.

The application form is also available as a Word document:

Applications to be authorised as an external auditor should be sent to: external.auditors@austrac.gov.au

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 the authorisation only lasts for two years from the date of authorisation.

Please note Applications received after 3 May 2011 will not be assessed until April 2012.

Auditors who are authorised under the AML/CTF Act

The list of the individuals who have been authorised as external auditors is published below to allow reporting entities to comply with notices given under subsections 161(2) and 162(2) of the AML/CTF Act.