Summary
Amends the
Australian Securities and Investments Commission Act 2001
and
Corporations Act 2001
to: facilitate the Australian Securities and Investments Commission (ASIC) entering into cooperative arrangements with foreign regulatory bodies relating to audit regulation; and enhance ASIC’s audit inspection powers. Also amends the
Corporations Act 2001
to extend the current immunity for contravention of certain auditing standards to 29 June 2007.