Document ID: chunk:federal_register_of_legislation:F2023C00337:reg:1:p23
Version: federal_register_of_legislation:F2023C00337
Segment Type: reg
Provision Reference: reg 1 (pt 23/23)
Character Range: 71271–73809

16-21.
[9]  See Framework for Assurance Engagements.
[10]  See ASA 800 Special Considerations—Audits of Financial Reports Prepared in Accordance with Special Purpose Frameworks, paragraph 8.
   The Australian Accounting Standards Board (AASB) sets accounting standards in Australia.
[11]  See ASA 200, paragraph A4.
[12]  See ASA 580 Written Representations, paragraphs 10-11.
[13]  See ASA 580, paragraphs A26-Aus A26.1.
[14] See ASA 315 Identifying and Assessing the Risks of Material Misstatement, Appendix 3 paragraph 22.
[15]  See ASA 315, paragraph A91 and Appendix 3.
[16]  In the paragraphs that follow, any reference to an audit engagement letter is to be taken as a reference to an audit engagement letter or other suitable form of written agreement.
[17]  See ASA 200, paragraphs 3-9.
[18]  See ASA 701 Communicating Key Audit Matters in the Independent Auditor's Report.
[19]  As defined in ASA 720 The Auditor's Responsibilities Relating to Other Information.
   See ASA 600 Special Considerations—Audits of a Group Financial Report (Including the Work of Component Auditors).
[20]  See ASA 700, paragraph 15, which includes a requirement regarding the evaluation of whether the financial report adequately refers to or describes the applicable financial reporting framework.
[21]  See ASA 200, paragraph 20.
[22] The addressees and references in the letter would be those that are appropriate in the circumstances of the engagement, including the relevant jurisdiction.  It is important to refer to the appropriate persons – see paragraph A22.  For an audit under the Corporations Act 2001, the appropriate persons are the Directors.
[23]   Throughout this letter, references to "you," "we," "us," "management," "those charged with governance" and "auditor" would be used or amended as appropriate in the circumstances.
[24]  This sentence would be modified, as appropriate, in circumstances when the auditor also has responsibility to issue an opinion on the effectiveness of internal control in conjunction with the audit of the financial report.
[25]  Use terminology as appropriate in the circumstances.  For an audit under the Corporations Act 2001, the appropriate terminology is "the Directors".
[26]  Or, for financial reports not prepared under the Corporations Act 2001, "For the preparation and fair presentation of the financial report in accordance with Australian Accounting Standards."
[27]  See paragraph A24 for examples of other matters relating to management's responsibilities that may be included.