Document ID: chunk:federal_register_of_legislation:F2023C01138:reg:4:p20
Version: federal_register_of_legislation:F2023C01138
Segment Type: reg
Provision Reference: reg 4 (pt 20/43)
Character Range: 60443–63386

as, or a related matter to, the matter giving rise to the qualified opinion on the financial report.

Qualified Opinion Due to Limitation of Scope

A56.         When there is a limitation of scope with respect to a material item in the financial report, the auditor will not have obtained sufficient appropriate audit evidence about that matter.  In these circumstances, the auditor may be unable to conclude whether or not the amounts or other items in the other information related to this matter result in a material misstatement of the other information.  Accordingly, the auditor may need to modify the statement required by paragraph 22(e) to refer to the auditor's inability to consider management's description of the matter in the other information in respect of which the auditor's opinion on the financial report has been qualified as explained in the Basis for Qualified Opinion paragraph.  The auditor is nevertheless required to report any other uncorrected material misstatements of the other information that have been identified.

Adverse Opinion

A57.         An adverse opinion on the financial report relating to a specific matter(s) described in the Basis for Adverse Opinion paragraph does not justify the omission of reporting of material misstatements of the other information that the auditor has identified in the auditor's report in accordance with paragraph 22(e)(ii).  When an adverse opinion has been expressed on the financial report, the auditor may need to appropriately modify the statement required by paragraph 22(e) for example, to indicate that amounts or items in the other information is materially misstated for the same matter as, or a related matter to, the matter giving rise to the adverse opinion on the financial report.

Disclaimer of Opinion

A58.         When the auditor disclaims an opinion on the financial report, providing further details about the audit, including a section to address other information may overshadow the disclaimer of opinion on the financial report as a whole.  Accordingly, in those circumstances, as required by ASA 705 the auditor's report does not include a section addressing the reporting requirements under this Auditing Standard.

Reporting Prescribed by Law or Regulation (Ref: Para. 24)

A59.         ASA 200[17] explains that the auditor may be required to comply with legal or regulatory requirements in addition to the Australian Auditing Standards.  Where this is the case, the auditor may be obliged to use a specific layout or wording in the auditor's report that differs from that described in this Auditing Standard.  Consistency in the auditor's report, when the audit has been conducted in accordance with Australian Auditing Standards, promotes credibility in the global marketplace by making more readily identifiable those audits that have been conducted in accordance with globally recognised standards.  When the differences between the legal