Document ID: chunk:federal_register_of_legislation:F2023C01137:body:0:p18
Version: federal_register_of_legislation:F2023C01137
Segment Type: other
Provision Reference: 
Character Range: 49208–52170

as "Information Other than the Financial Report and Auditor's Report Thereon"]

[Reporting in accordance with the reporting requirements in ASA 720 – see [Aus] Illustration 6A in Appendix 3 of revised ASA 720.  The last paragraph of the other information section in [Aus] Illustration 6A would be customised to describe the specific matter giving rise to the qualified opinion that also affects the other information.[#]]

Responsibilities of the Directors for the Financial Report

[Reporting in accordance with ASA 700 – see [Aus] Illustration 1A in ASA 700.]

Auditor's Responsibilities for the Audit of the Financial Report

[Reporting in accordance with ASA 700 – see [Aus] Illustration 1A in ASA 700.]

Report on the Remuneration Report[§]

[Reporting in accordance with ASA 700 – see [Aus] Illustration 1A in ASA 700.]

[Auditor's name and signature][*]

[Name of Firm]

[Date of the auditor's report]

[Auditor's address]

Example Auditor's Report
Consolidated Entity—Corporations Act 2001
(Fair Presentation Framework)

[Aus] Illustration 2A:  Adverse Opinion due to a Material Misstatement of the Financial Report

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

      * Audit of the financial report of a listed company and its subsidiaries (the Group).  The audit is a group audit (i.e.  ASA 600 applies).

      * The financial report is prepared by the directors of the company in accordance with Australian Accounting Standards (a general purpose framework) and under the Corporations Act 2001.  The directors have elected to report only the consolidated financial position and financial results in the primary financial statements.

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

      * The financial report is materially misstated due to the non‑consolidation of a subsidiary.  The material misstatement is deemed to be pervasive to the financial report.  The effects of the misstatement on the financial report has not been determined because it was not practicable to do so (i.e., an adverse opinion is appropriate).

      * 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).

      * Based on the audit evidence obtained, the auditor has concluded that a material uncertainty does not exist related to events or conditions that may cast significant doubt on the Group's ability of to continue as a going concern in accordance with ASA 570.

      * ASA 701 applies; however, the auditor has determined that there are no key audit matters other than the matter described in the Basis for Adverse Opinion section.

      * The auditor has obtained all of the other information prior to the date of the auditor's report and the matter giving rise to