Document ID: chunk:federal_register_of_legislation:F2022C01208:reg:14:p31
Version: federal_register_of_legislation:F2022C01208
Segment Type: reg
Provision Reference: reg 14 (pt 31/57)
Character Range: 94985–98053

complying with Accounting Standard AASB 134 Interim Financial Reporting and the Corporations Regulation 2001.[12]  Such a review consists of making enquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures and does not, ordinarily, require corroboration of the information obtained.  The scope of a review of a financial report is substantially less than the scope of an audit conducted in accordance with Auditing Standards whose objective is the expression of an opinion regarding the financial report and accordingly, we shall express no such opinion.  ASRE 2410 requires us to also comply with the ethical requirements relevant to the audit of the annual financial report of the entity.

We expect to report on the half‑year financial report[13] as follows:

[Include text of sample auditor's review report - see Appendix 3 or 4 as appropriate.]

The directors [those charged with governance[14]] of the [company/registered scheme/disclosing entity] are responsible for the preparation of the half‑year financial report that gives a true and fair view in accordance with Australian Accounting Standards and the Corporations Act 2001 and for such internal control as the directors [those charged with governance] determine is necessary to enable the preparation of the half‑year financial report that is free from material misstatement, whether due to fraud or error.  As part of our review, we shall request written representations from management concerning assertions made in connection with the review.  We shall also request that where any document containing the half‑year financial report indicates that the half‑year financial report has been reviewed, our review report will also be included in the document.

The directors [those charged with governance] of the [company/registered scheme/disclosing entity] acknowledge and understand they have responsibility to provide us with:

    (i)                 access to information relevant to the preparation of the half‑year financial report;

    (ii)               additional information that we may request for the purposes of the review engagement; and

    (iii)             unrestricted access to persons from whom we determine it is necessary to obtain evidence.

A review of the half‑year financial report does not provide assurance that we shall become aware of all significant matters that might be identified in an audit.  Further, our engagement cannot be relied upon to disclose whether fraud or errors, or illegal acts exist.  However, we shall inform you of any material matters that come to our attention.

Independence

We confirm that, to the best of our knowledge and belief, we currently meet the independence requirements of the Corporations Act 2001 and the Accounting Professional and Ethics Standard Board APES 110 Code of Ethics for Professional Accountants (including Independence Standards) (The Code) in relation to the review of the half‑year financial report.  In conducting our review of the half‑year