Document ID: chunk:federal_register_of_legislation:F2023C01125:body:0:p19
Version: federal_register_of_legislation:F2023C01125
Segment Type: other
Provision Reference: 
Character Range: 53340–56135

obliged to report on identified or suspected non‑compliance to the legislature or other governing body or to report them in the auditor's report.

Documentation (Ref: Para. 30)

A35.         The auditor's documentation of findings regarding identified or suspected non‑compliance with laws and regulations may include, for example:

         * Copies of records or documents.

         * Minutes of discussions held with management, those charged with governance or parties outside the entity.

A36.         Law, regulation or relevant ethical requirements may also set out additional documentation requirements regarding identified or suspected non‑compliance with laws and regulations.[19]
[*]  Early adoption, in conjunction with ASA 315 Identifying and Assessing the Risks of Material Misstatement, permitted.
[1]  See ASA 200, Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Australian Auditing Standards, paragraph 5.
[2]  See ASA 200, paragraphs A53–A54.
[3]  See ASA 200, paragraph 15.
[4]  See ASA 315, Identifying and Assessing the Risks of Material Misstatement, paragraph 19.
[5]  See ASA 260, Communication with Those Charged with Governance, paragraph 13.
[6]  See ASA 705, Modifications to the Opinion in the Independent Auditor's Report, paragraphs 7–8.
[7]  See ASA 705, paragraphs 7 and 9.
[8]  See ASA 230, Audit Documentation, paragraphs 8–11, and A6.
[9]  See ASA 700, Forming an Opinion and Reporting on a Financial Report, paragraph 43.
[10]  See ASA 800, Special Considerations—Audits of Financial Reports Prepared in Accordance with Special Purpose Frameworks, paragraph 11.
[11]  See, for example, paragraphs R360.16-360.18 A1 of the APES 110 Code of Ethics for Professional Accountants (including Independence Standards) (the Code).
[12]  See ASA 570, Going Concern.
[13]  See ASA 580, Written Representations, paragraph 4.
[14]  See ASA 220, Quality Management  for an Audit of a Financial Report and Other Historical Financial Information.
[15]  See ASA 701, Communicating Key Audit Matters in the Independent Auditor's Report.
[16]  See ASA 706, Emphasis of Matter Paragraphs and Other Matter Paragraphs in the Independent Auditor's Report.
   See sections 308 (2) and (3) of the Corporations Act 2001.
   See ASIC Regulatory Guide 34 Auditors' obligations: Reporting to ASIC that provides guidance to help auditors comply with their obligations, under sections 311, 601HG and 990K of the Corporations Act 2001, to report contraventions and suspected contraventions of the Act to ASIC.
[17]  See, for example, paragraphs 360.21 A1 and 360.25 A1–R360.27 of the Code.
[18]  See, for example, paragraphs R114.1, 114.1 A1, AUST 114.1 A1.1 and R360.26 of the Code.
[19]  See, for example, paragraph R360.28 of the Code.