Document ID: chunk:federal_register_of_legislation:F2023C00340:reg:10:p18
Version: federal_register_of_legislation:F2023C00340
Segment Type: reg
Provision Reference: reg 10 (pt 18/29)
Character Range: 55241–58490

* Illustration 2: [Deleted by the AUASB.  Refer [Aus] Illustration 2A].

      * [Aus] Illustration 2A: An auditor's report on a financial report of a single listed company prepared in accordance with the Corporations Act 2001 containing a qualified opinion when the auditor has concluded that a material uncertainty exists and that the financial report is materially misstated due to inadequate disclosure.

      * Illustration 3: [Deleted by the AUASB.  Refer [Aus] Illustration  3A].

      * [Aus] Illustration 3A: An auditor's report on a financial report of a single listed company prepared in accordance with the Corporations Act 2001 containing an adverse opinion when the auditor has concluded that a material uncertainty exists and the financial report omits the required disclosures relating to a material uncertainty.

      * [Aus] Illustration 4A: An auditor's report on a financial report of a single listed company prepared in accordance with the Corporations Act 2001 containing a disclaimer of opinion (limitation of scope) when the auditor has been unable to obtain sufficient appropriate audit evidence about the company's ability to continue as a going concern.

Example Auditor's Report
    Unmodified Opinion, Material Uncertainty Exists, Adequate Disclosure
    Single Company‑Corporations Act 2001
(Fair Presentation Framework)

[Aus] Illustration 1A:

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

                         Audit of the financial report of a single listed company.  The audit is not a group audit (i.e. ASA 600[*] does not apply).

                         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 terms of the audit engagement reflect the description of the directors' responsibility for the financial report in ASA 210.[#]

                         The auditor has concluded an unmodified (i.e., "clean") opinion is appropriate based on the audit evidence obtained.

                         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 exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern.  The disclosure of the material uncertainty in the financial report is adequate.

                         Key audit matters have been communicated in accordance with ASA 701.

                         The auditor has obtained all of the other information prior to the date of the auditor's report and has not identified a material misstatement of the other information.

                         In addition to the audit of the financial report, the auditor has other reporting responsibilities required under section 308(3C) of the Corporations Act 2001.

INDEPENDENT AUDITOR'S REPORT

[Appropriate Addressee]

Report on