Document ID: chunk:federal_register_of_legislation:F2023C01138:reg:4:p37
Version: federal_register_of_legislation:F2023C01138
Segment Type: reg
Provision Reference: reg 4 (pt 37/43)
Character Range: 106397–109460

the Remuneration Report

[Reporting in accordance with ASA 700 – see [Aus] Illustration 2A in ASA 700.]

[Auditor's name and signature][*]

[Name of Firm]

[Date of the auditor's report]

[Auditor's address]

Example Auditor's Report
Consolidated Entity‑Corporations Act 2001
Adverse opinion that affects the Other Information obtained
    (Fair Presentation Framework)

    [Aus] Illustration 7A

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

      * Audit of the financial report of a listed company and its subsidiaries (the Group).  The audit is a group audit (i.e., ASA 600 applies).

      * 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 directors have elected to report only the financial position and financial results in the primary financial statements

      * The terms of the audit engagement reflect the description of the directors' responsibility for the financial report in ASA 210.

      * The financial report is materially misstated due to the non‑consolidation of a subsidiary.  The material misstatement is deemed to be pervasive to the financial report.  The effects of the misstatement on the financial report have not been determined because it was not practicable to do so (i.e., an adverse opinion is appropriate).

      * 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 Group's ability to continue as a going concern in accordance with ASA 570.

      * 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 the matter giving rise to the adverse opinion on the financial report also affects 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 the Audit of the Financial Report[*]

Adverse Opinion

We have audited the financial report of ABC Company Ltd., (the Company), and its subsidiaries (the Group), which comprises the consolidated statement of financial position as at 30 June 20X1, the consolidated statement of comprehensive income, the consolidated statement of changes in equity and the consolidated statement of cash flows for the year then ended, and notes to the financial statements including material accounting policy information and other explanatory information, and the directors' declaration.

In our opinion, because of the significance