Document ID: chunk:federal_register_of_legislation:F2020L00885:body:0:p13
Version: federal_register_of_legislation:F2020L00885
Segment Type: other
Provision Reference: 
Character Range: 36042–39318

to eliminate threats or safeguards applied.

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53.               [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 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 &and Ethical Standards Board's APES 110 Code of Ethics for Professional Accountants (including Independence Standards) (the Code) ...

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Auditor's Responsibilities for the Audit of the Financial Report

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We also provide the directors with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards actions taken to eliminate threats or safeguards applied.

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54.               Illustration 3: Example Auditor's Report for Single Entity (not listed) (Fair Presentation Framework), is amended as follows:

INDEPENDENT AUDITOR'S REPORT

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Basis for Opinion

... 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) ....
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55.               Illustration 4: Example Auditor's Report for Single Entity (not listed) (Compliance Framework), is amended as follows:

INDEPENDENT AUDITOR'S REPORT

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Basis for Opinion

... 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) ...
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Amendments to ASA 705

Amendments to ASA 705 Appendix: [Aus] Illustration 1A, [Aus] Illustration 2A, [Aus] Illustration 3A, Illustration 4 and Illustration 5

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

    For the 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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57.               [Aus] Illustration 1A: Example Auditor's Report for Single Company – Corporations Act 2001 (Fair Presentation Framework), is amended as follows:

INDEPENDENT AUDITOR'S REPORT

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Basis for Qualified Opinion

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We conducted our audit in accordance with Australian Auditing Standards. ... 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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58.               [Aus] Illustration 2A: Example Auditor's Report for Consolidated Entity