Document ID: chunk:federal_register_of_legislation:F2022C01203:reg:11:p5
Version: federal_register_of_legislation:F2022C01203
Segment Type: reg
Provision Reference: reg 11 (pt 5/7)
Character Range: 18428–21280

of management of the company/entity are responsible for the preparation of the financial report that gives a true and fair view in accordance with Australian Accounting Standards and the Corporations Act 2001/ACNC Act[11] and for such internal control as the directors/board of management determine is necessary to enable the preparation of the financial report that gives a true and fair view and is free from material misstatement, whether due to fraud or error.

Auditor's Responsibility

Our [My] responsibility is to express a conclusion on the financial report based on our [my] review.  We [I] conducted our [my] review in accordance with Auditing Standard on Review Engagements ASRE 2415 Review of a Financial Report: Company Limited by Guarantee or an Entity Reporting under the ACNC Act or Other Applicable Legislation or Regulation, in order to state whether, on the basis of the procedures described, we [I] have become aware of any matter that makes us [me] believe that the financial report is not in accordance with the Corporations Act 2001/ACNC Act[12] including: giving a true and fair view of the company's/entity's financial position as at 30 June 20XX and its performance for the year ended on that date; and complying with the Australian Accounting Standards [and Corporations Regulations 2001].  ASRE 2415 requires that we [I] comply with the ethical requirements relevant to the review of the financial report.

A review of a financial report consists of making enquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures.  A review is substantially less in scope than an audit conducted in accordance with Australian Auditing Standards and consequently does not enable us [me] to obtain assurance that we [I] would become aware of all significant matters that might be identified in an audit.  Accordingly, we [I] do not express an audit opinion.

[Independence

In conducting our [my] review, we [I] have complied with the independence requirements of the Corporations Act 2001.  We [I] confirm that the independence declaration required by the Corporations Act 2001, which has been given to the directors of [name of company], would be in the same terms if given to the directors as at the time of this auditor's report.][13]

Conclusion[14]

Based on our [my] review, which is not an audit,  we [I] have not become aware of any matter that makes us [me] believe that the financial report of [name of company] is not in accordance with the Corporations Act 2001[15] including:

    (a)                giving a true and fair view of the company's financial position as at 30 June 20XX and of its performance for the year ended on that date; and

    (b)                complying with Australian Accounting Standards [and Corporations Regulations 2001].