Document ID: chunk:federal_register_of_legislation:F2022C01208:reg:14:p53
Version: federal_register_of_legislation:F2022C01208
Segment Type: reg
Provision Reference: reg 14 (pt 53/57)
Character Range: 156702–159604

Basis for Qualified Conclusion section, nothing has come to our attention that causes us to believe that the accompanying [period] financial report of [name of entity] does not present fairly, in all material respects, [or "give a true and fair view of"[52]] the financial position of the [entity] as at [date], and of its financial performance and its cash flows for the [period] period ended on that date, in accordance with [applicable financial reporting framework].

Basis for Qualified Conclusion

As a result of a fire in a branch office on [date] that destroyed its accounts receivable records, we were unable to complete our review of accounts receivable totalling $_______ included in the [period] financial report.  The [entity] is in the process of reconstructing these records and is uncertain as to whether these records will support the amount shown above and the related allowance for uncollectible accounts.  We consider the possible effects incapable of reliable measurement at this time.  Had we been able to complete our review of accounts receivable, matters might have come to our attention indicating that adjustments might be necessary to the [period] financial report.

We conducted our review in accordance with ASRE 2410 Review of a Financial Report Performed by the Independent Auditor of the Entity.  Our responsibilities are further described in the Auditor's Responsibilities for the Review of the Financial Report section of our report. We are independent of the [entity] in accordance with the ethical requirements of the Accounting Professional and 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 annual financial report in Australia.  We have also fulfilled our other ethical responsibilities in accordance with the Code.

Responsibility of Management for the Financial Report[53]

Management of the [type of entity] are responsible for the preparation and fair presentation of the [period] financial report in accordance with the [applicable financial reporting framework] and for such internal control as management determine is necessary to enable the preparation and fair presentation of the [period] financial report that is free from material misstatement, whether due to fraud or error.

Auditor's Responsibility for the Review of the Financial Report

Our responsibility is to express a conclusion on the financial report based on our review.  ASRE 2410 requires us to conclude whether anything has come to our attention that causes us to believe that the [period] financial report of [name of entity] does not present fairly, in all material respects, [or "give a true and fair view of"[54]] the financial position of the [entity] as at [date], and of its financial performance and its cash flows for the [period] period ended on that date, in