Document ID: chunk:federal_register_of_legislation:F2023C00341:reg:4:p32
Version: federal_register_of_legislation:F2023C00341
Segment Type: reg
Provision Reference: reg 4 (pt 32/42)
Character Range: 99517–102483

evidence about the carrying amount of ABC Entity's investment in XYZ as at 30 June 20X1 and ABC's share of XYZ's profit for the year because we were denied access to the financial information, management, and the auditors of XYZ.  Consequently, we were unable to determine whether any adjustments to these amounts were necessary.

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 ethical requirements of the Accounting Professional & Ethical Standards Board's APES 110 Code of Ethics for Professional Accountants (including Independence Standards) (the Code) that are relevant to our audit of the financial report in Australia.  We have also fulfilled our other ethical responsibilities in accordance with the Code.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion.

Other Information [or another title if appropriate such as "Information Other than the Financial Report and Auditor's Report Thereon"]

[Reporting in accordance with the reporting requirements of ASA 720 – see [Aus] Illustration 6A in Appendix 3 of ASA 720.  The last paragraph of the other information section in [Aus] Illustration 6A would be customised to describe the specific matter giving rise to the qualified opinion that also affects the other information.]

Responsibilities of Management and Those Charged with Governance for the Financial Report

[Reporting in accordance with ASA 700 – see [Aus] Illustration 3 in the Appendix of ASA 700.]

Auditor's Responsibilities for the Audit of the Financial Report

[Reporting in accordance with ASA 700 – see [Aus] Illustration 3 in the Appendix of ASA 700.  The last two paragraphs which are applicable for audits of listed entities only would not be included.]

[Signature][*]

[Date of the auditor's report]

[Auditor's address]

Example Auditor's Report
General Purpose Financial Report — Qualified Opinion under the Corporations Act 2001
The group engagement team is not able to obtain sufficient appropriate audit evidence on which to base the group audit opinion
(Fair Presentation Framework)
[Aus] Illustration 1A:

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 consolidated financial position and financial results in the primary financial statements.

     * The terms of the audit