Australia Public Governance, Performance and Accountability Act 2013 (PGPA Act) 44: Subsidiaries of corporate Commonwealth entities: ensure every subsidiary's financial statements for each reporting period are audited, by the Auditor-General unless the foreign-incorporation exceptions apply, using Corporations Act rules where applicable, and give the auditor's report with the statements to the responsible Minister

What does 44 require?

A corporate Commonwealth entity that has a subsidiary at the close of the subsidiary's reporting period must see that every financial statement of that subsidiary for the period is audited. The Auditor-General carries out the audit unless the subsidiary was incorporated or formed overseas and either the local law prevents the Auditor-General's appointment or the Auditor-General judges an audit impracticable or unreasonable; if another auditor is engaged, the Auditor-General still audits the statements outside those two cases. Where the subsidiary is a Corporations Act company obliged to have its statements audited, the Auditor-General reports under the Corporations Act rules, which are applied to other subsidiaries so far as practicable. The accountable authority then passes the auditor's report, with a copy of the subsidiary's statements, to the responsible Minister.