Document ID: chunk:federal_register_of_legislation:F2017C00509:body:0:p16
Version: federal_register_of_legislation:F2017C00509
Segment Type: other
Provision Reference: 
Character Range: 39243–42035

unable to form an opinion about the matter being audited.

Reasonable assurance conclusion
 (2) In giving a reasonable assurance conclusion, the audit team leader is giving a conclusion of the audit team leader's opinion, expressed in the positive, that there is no misstatement in the matter being audited that is material or pervasive enough to affect the matter being audited as a whole.
Note: Examples of a reasonable assurance conclusion are as follows:
(a) 'In my opinion, the audited body has prepared the matter to be audited, in all material respects, in compliance with the requirements of the NGER legislation';
(b) 'In my opinion, the audited body has reported its greenhouse gas emissions, energy production and energy consumption, in all material respects, in compliance with the NGER legislation'.

Qualified reasonable assurance conclusion
 (3) In giving a qualified reasonable assurance conclusion, the audit team leader is giving a conclusion of the audit team leader's opinion, expressed in the positive, that:
 (a) there are 1 or more misstatements in the matter being audited that are material but not pervasive enough to affect the matter being audited as a whole; or
 (b) there is insufficient evidence in relation to 1 or more aspects of the matter being audited, but although the lack of evidence may be material it is not pervasive enough to affect the matter being audited as a whole.
Note 1: Examples of a qualified reasonable assurance conclusion are as follows:
(a) 'In my opinion, except for 'X', the audited body has prepared the matter to be audited, in all material respects, in compliance with the NGER legislation';
(b) 'In my opinion, except for 'X', the audited body has reported its greenhouse gas emissions, energy production and energy consumption, in all material respects, in compliance with the NGER legislation'.
Note 2: In the examples in Note 1, 'X' represents any misstatement that is material but not pervasive enough to affect matters as a whole.
 (4) The audit team leader must only give a conclusion if it is supported by the evidence gathered.

3.18  Giving conclusions in a limited assurance engagement
 (1) If the audit team leader is carrying out a limited assurance engagement, the audit team leader must consider the evidence gathered in the course of carrying out the limited assurance engagement and give 1 of the following conclusions for the engagement:
 (a) a limited assurance conclusion;
 (b) a qualified limited assurance conclusion;
 (c) an adverse conclusion;
 (d) a conclusion that he or she is unable to form an opinion about the matter being audited.

Limited assurance conclusion
 (2) In giving a limited assurance conclusion, the audit team leader is giving a conclusion of the audit team leader's opinion, expressed in