Anyone wishing to become a registered company auditor has to comply with certain requirements, as outlined in section 1280 of the Corporations Act. The requirements were changed by the passage of the CLERP 9 legislation in 2004, potentially making it easier for auditors in regional or rural areas to meet the experience requirements. You have graduated from your accounting course and believe that although you have not had much experience working with auditors, you are capable of meeting all the requirements and being a good auditor.

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Visit the ASIC website (www.asic.gov.au) and locate the guidance for meeting the regulatory requirements for company auditor registration. Summarise those requirements and explain what is required for registration for anyone with a completed accounting degree.