Document ID: chunk:federal_register_of_legislation:F2021C01163:body:0:p7
Version: federal_register_of_legislation:F2021C01163
Segment Type: other
Provision Reference: 
Character Range: 15460–18388

bases:
           (i) a single entity basis;
           (ii) if the company is a party to any deed of cross guarantee for the purposes of relief to its wholly-owned entities under ASIC Corporations (Wholly-owned Companies) Instrument 2016/785, on a consolidated basis separately for both:
(A) those (and only those) entities comprising the closed group; and
(B) those (and only those) entities comprising the extended closed group; and
           (iii) if the company is required under the Act or another ASIC order under section 340 or 341 of the Act to prepare consolidated financial statements, on a consolidated basis for the company and its controlled entities;
(q)  assets, liabilities, and profit after related income tax expense for the purposes of paragraphs (l) to (p) have been determined in accordance with accounting standards (as if the company, any controlled entities and the group were reporting entities) except that liabilities must include any unapproved subordinated debt and may exclude approved subordinated debt;
Compilation of the financial reports
       (r) the directors of the company have caused the financial report for the relevant financial year of the company to be compiled by a prescribed accountant and reasonably believe that the accountant has undertaken the compilation in accordance with APES 315 Compilation of Financial Information (APES 315);
(s)  a compilation report that the directors of the company reasonably believe has been prepared by the prescribed accountant in accordance with APES 315 is attached to the relevant financial report and is included with all copies of the relevant financial report distributed to members, lodged with ASIC or provided to any other person;
Lodgement of financial reports
(t) the financial report and directors' report for the relevant financial year and for the immediately preceding financial year:
           (i) substantially comply with Chapter 2M of the Act; and
           (ii) are or were lodged with ASIC in accordance with subsection 319(1) and paragraph 319(3)(b) of the Act;
Statement in directors' report
(u) in the directors' report for the relevant financial year, the directors state that the financial report for that relevant financial year has not been audited, in reliance on this instrument, and that the requirements of this instrument have been complied with;
No proposed modified auditor's report
(v) no registered company auditor has indicated to the company, any of its directors or other officers that, if the financial report of the company for the relevant financial year were audited in accordance with Division 3 of Part 2M.3 of the Act, the auditor's report may contain a modified opinion within the meaning of paragraph 5(b) of Auditing Standard ASA 705 Modifications to the Opinion in the Independent Auditor's Report, and there are no material disagreements or unresolved issues as between the company and any