Document ID: chunk:federal_register_of_legislation:F2023C01137:body:0:p25
Version: federal_register_of_legislation:F2023C01137
Segment Type: other
Provision Reference: 
Character Range: 68139–71183

Report

Our responsibility is to conduct an audit of the financial report in accordance with Australian Auditing Standards and to issue an auditor's report.  However, because of the matter described in the Basis for Disclaimer of Opinion section of our report, we were not able to obtain sufficient appropriate audit evidence to provide a basis for an audit opinion on the financial report.

We are independent of the Group in accordance with the ethical requirements of the Accounting Professional & Ethical Standards Board's APES 110 Code of Ethics for Professional Accountants (including Independence Standards) (the Code) that are relevant to our audit of the financial report in Australia.  We have also fulfilled our other ethical responsibilities in accordance with the Code.

Report on Other Legal and Regulatory Requirements

[Reporting in accordance with ASA 700 – see [Aus] Illustration 2A in ASA 700.]

[Signature][*]

[Date of the auditor's report]

[Auditor's address]

Example Auditor's Report
Single Entity (not listed)
(Fair Presentation Framework)

Illustration 5 – Disclaimer of Opinion due to the Auditor's Inability to Obtain Sufficient Appropriate Audit Evidence about Multiple Elements of the Financial Report

For purposes of this illustrative auditor's report, the following circumstances are assumed:

      * Audit of a financial report of an entity other than a listed entity.  The audit is not a group audit (i.e., ASA 600, does not apply).

      * The financial report is prepared by management of the entity in accordance with Australian Accounting Standards (a general purpose framework).  The financial report is not prepared in accordance with the Corporations Act 2001.

      * The terms of the audit engagement reflect the description of management's responsibility for the financial report in ASA 210.

      * The auditor was unable to obtain sufficient appropriate audit evidence about multiple elements of the financial report, that is, the auditor was also unable to obtain audit evidence about the entity's inventories and accounts receivable.  The possible effects of this inability to obtain sufficient appropriate audit evidence are deemed to be both material and pervasive to the financial report.

      * The relevant ethical requirements that apply to the audit are the Accounting Professional & Ethical Standards Board's APES 110 Code of Ethics for Professional Accountants (including Independence Standards).

      * Inclusion of key audit matters is not permitted under paragraph 29.

      * The auditor is not permitted to include an other information section in accordance with ASA 720[*].

      * Those responsible for oversight of the financial report differ from those responsible for the preparation of the financial report.

      * A more limited description of the auditor's responsibilities section is required.

      * In addition to the audit of the financial report, the auditor has other reporting responsibilities required under law.

INDEPENDENT AUDITOR'S REPORT

To