Under s.30A of the Auditor-General Act 2009, a public sector entity may be exempt from audit.
This will only occur if the Auditor-General is reasonably satisfied that the audit is small in size and low in risk. The criteria applied by the Auditor-General in making this assessment is included in the Auditor-General Auditing Standards.
An entity may be granted an exemption from audit by the Auditor-General for a maximum of 3 financial years. However, a further exemption may be granted at the expiry of that 3-year period.
If an exemption is granted, an appropriately qualified person must be engaged to audit the entity for that period. The Auditor-General has the right to repeal an exemption granted under s.30A.
Exemption has currently been granted for the following entities:
- Board of Architects Queensland
- Central Queensland Regional Organisation of Councils
- Darling Downs-Moreton Rabbit Board
- Drive Inland Promotions Association Inc.
- Far North Queensland Regional Organisation of Councils
- Whitsunday ROC Limited (Greater Whitsunday Council of Mayors)
- Gulf Savannah Development Inc.
- Mt Gravatt Showgrounds Trust
- North West Queensland Regional Organisation of Councils
- Regional Queensland Council of Mayors Inc.
- South West Queensland Regional Organisation of Councils
- Surveyors Board of Queensland
- The Board of Trustees of Newstead House
- Torres Cape Indigenous Council Alliance (TCICA) Inc.
- Valuers Registration Board of Queensland
- Wide Bay Burnett Regional Organisation of Councils Inc.