Document ID: chunk:federal_register_of_legislation:F2023C01140:reg:39:p47
Version: federal_register_of_legislation:F2023C01140
Segment Type: reg
Provision Reference: reg 39 (pt 47/53)
Character Range: 140219–143252

including the disclosures, and whether the financial report represents the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

[Signature][*]

[Date of the auditor's report][#]

[Auditor's address]

Example Auditor's Report
Single Entity (not listed)
(Compliance Framework)

Illustration 4:

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

      * Audit of a financial report of an entity other than a listed entity required by law or regulation.  The audit is not a group audit (i.e., ASA 600 does not apply).

      * The financial report is prepared by management of the entity in accordance with the Financial Reporting Framework (XYZ Law) of Jurisdiction X (that is, a financial reporting framework, encompassing law or regulation, designed to meet the common financial information needs of a wide range of users, but which is not a fair presentation framework).

      * The terms of the audit engagement reflect the description of management's 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 does not exist related to events or conditions that may cast significant doubt on the entity's ability to continue as a going concern in accordance with ASA 570.

      * The auditor is not required, and has otherwise not decided, to communicate key audit matters 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.

      * Those responsible for oversight of the financial report differ from those responsible for the preparation of the financial report.

      * The auditor has no other reporting responsibilities required under local law.

INDEPENDENT AUDITOR'S REPORT

[Appropriate Addressee]

Opinion

We have audited the financial report of ABC Entity (the Entity), which comprises the balance sheet as at 30 June 20X1, and the income statement, statement of changes in equity and cash flow statement for the year then ended, and notes to the financial statements, including material accounting policy information, and the declaration by those charged with governance.[#]

In our opinion, the accompanying financial report of the Entity is prepared, in all material respects, in accordance with