Document ID: chunk:federal_register_of_legislation:F2025L00105:body:0:p5
Version: federal_register_of_legislation:F2025L00105
Segment Type: other
Provision Reference: 
Character Range: 12373–15624

for the Audit of the Financial Report section of our report.  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 & Ethical Standards Board's APES 110 Code of Ethics for Professional Accountants (including Independence Standards) issued by the Accounting Professional & Ethical Standards Board Limited (the Code) that are relevant to our audits of the financial report of public interest entities in Australia.  We have also fulfilled our other ethical responsibilities in accordance with the Code.

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 1.                [Aus] Illustration 2A: Example Auditor's Report for Group Entity – Corporations Act 2001 (Fair Presentation Framework), is amended as follows:

INDEPENDENT AUDITOR'S REPORT

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Basis for Opinion

We conducted our audit in accordance with Australian Auditing Standards.  Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Report section of our report.  We are independent of the Group in accordance with the auditor independence requirements of the Corporations Act 2001 and the ethical requirements of the Accounting Professional & Ethical Standards Board's APES 110 Code of Ethics for Professional Accountants (including Independence Standards) issued by the Accounting Professional & Ethical Standards Board Limited (the Code) that are relevant to our audits of the financial report of public interest entities in Australia.  We have also fulfilled our other ethical responsibilities in accordance with the Code.

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Amendments to ASA 260

 1.                Each of the existing paragraphs 17 to 23 are renumbered as paragraphs 18 to 24 respectively.  All cross-references to those paragraphs are updated accordingly.

 2.                The following paragraph 17 is inserted following existing sub-heading "Auditor Independence":

The auditor shall communicate with those charged with governance the relevant ethical requirements, including those related to independence, that the auditor applies for the audit engagement, including if applicable in the circumstances, any independence requirements specific to audits of financial reports of certain entities. (Ref: Para. A29)

 1.                In renumbered existing paragraph 18(a)(ii) 'A29' is replaced by 'A30'

 2.                Existing paragraph A29 and its heading are amended to read as follows:

Auditor Independence (Ref: Para. 17–18)

The auditor is required to comply with relevant ethical requirements, including those related to independence, relating to financial report audit engagements24 and to communicate with those charged with governance about the requirements the auditor applies. Relevant ethical requirements may:

 1.                 Establish independence requirements that are specific to audits of financial reports of certain entities specified in the relevant ethical requirements, such as the independence requirements for audits of financial reports of public interest entities in the APES 110 Code of Ethics for Professional Accountants (including Independence Standards) issued by the Accounting Professional & Ethical Standards