Document ID: chunk:federal_register_of_legislation:F2020L00885:body:0:p17
Version: federal_register_of_legislation:F2020L00885
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Standards. ... 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) ...

Amendments to ASA 720

73.               Paragraph 4 is amended as follows:

This Auditing Standard may also assist the auditor in complying with relevant ethical requirements2* that require the auditor to avoid being knowingly associated with information that the auditor believes contains a materially false or misleading statement, statements or information providedfurnished recklessly, or omits or obscures required information required to be included where such omission or obscurity would be misleading.

74.               Paragraph A38 is amended as follows:

Remaining alert for other indications that the other information not related to the financial statements or the auditor's knowledge obtained in the audit appears to be materially misstated assists the auditor in complying with relevant ethical requirements that require the auditor to avoid being knowingly associated with other information that the auditor believes contains a materially false or misleading statement, a statement providedfurnished recklessly, or omits or obscures necessary information such that the other information is misleading.12*…

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Amendments to ASA 720 [Aus] Appendix 3: [Aus] Illustration 1A, [Aus] Illustration 2A, Illustration 3, [Aus] Illustration 4A, [Aus] Illustration 5A, [Aus] Illustration 6A and [Aus] Illustration 7A

75.               The fifth point of [Aus] Illustration 1A, [Aus] Illustration 2A, Illustration 3, [Aus] Illustration 4A, [Aus] Illustration 5A, [Aus] Illustration 6A and [Aus] Illustration 7A are amended as follows:

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

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

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76.               [Aus] Illustration 1A: Example Auditor's Report for Single Company – Corporations Act 2001, Unmodified opinion – all of the Other Information obtained (Fair Presentation Framework), is amended as follows:

INDEPENDENT AUDITOR'S REPORT

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Basis for Opinion

.... We are independent of the Company in accordance with the auditor independence requirements of the Corporations Act 2001 and 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) ...

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77.               [Aus] Illustration 2A: Example Auditor's Report for Single Company – Corporations Act 2001, Unmodified opinion – part of the Other Information obtained (Fair Presentation Framework), is amended as follows:

INDEPENDENT AUDITOR'S REPORT

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Basis for Opinion

... We are independent of the Company in accordance with the auditor independence requirements of the Corporations Act 2001 and the ethical requirements of the Accounting Professional &and Ethical Standards Board's APES 110 Code of Ethics for Professional