Problem
Garry is a partner in an accounting firm in Sydney. Garry is currently looking at his portfolio of new Australian clients which include:
• ABC Superannuation Fund, a corporate fund that manages superannuation and pension plans for the 20,000 employees of ABC Pty Ltd.
• XYZ, a statutory fund maintained under the Life Insurance Act 1995.
• DEF, a small company limited by guarantee, with consolidated revenue of less than $1 million per annum.
• UVW, a company listed on the Australia Securities Exchange.
Task
For each entity, identify if is required (not required) to be audited under the Corporations Act 2001. Justify your answer.