Document ID: chunk:federal_register_of_legislation:F2023C01140:reg:39:p27
Version: federal_register_of_legislation:F2023C01140
Segment Type: reg
Provision Reference: reg 39 (pt 27/53)
Character Range: 85402–88409

permitted by law, regulation or Australian Auditing Standards.  The information on the website that is incorporated in the auditor's report by way of a specific reference to the website location where such information can be found may describe the auditor's work, or the audit in accordance with Australian Auditing Standards more broadly, but it cannot be inconsistent with the description required in paragraphs 39–40.  This means that the wording of the description of the auditor's responsibilities on the website may be more detailed, or may address other matters relating to an audit of the financial report, provided that such wording reflects and does not contradict the matters addressed in paragraphs 39–40.

A57.         An appropriate authority could be the Auditing and Assurance Standards Board, a regulator, or an audit oversight body.  Such organisations are well‑placed to ensure the accuracy, completeness and continued availability of the standardised information.  It would not be appropriate for the auditor to maintain such a website.  The following is an illustration of how such a reference to a website could be made in the auditor's report:

         Auditor's Responsibilities for the Audit of the Financial Report

         Our objectives are to obtain reasonable assurance about whether the financial report as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion.  Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with Australian Auditing Standards will always detect a material misstatement when it exists.  Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the financial report.

    A further description of our responsibilities for the audit of the financial report is located at [Organisation's] website at: [website address].  This description forms part of our auditor's report.

Aus A57.1 When the auditor refers to a description of the auditor's responsibilities on a website, the appropriate authority is The Auditing and Assurance Standards Board and the website address is http://www.auasb.gov.au/Home.aspx [*]

Early adoption of Auditing Standards

Aus A57.2 Unless otherwise stated in an Auditing Standard, the auditor is permitted to apply the standard before the operative date specified therein. Where an Auditing Standard is early adopted, all relevant conforming and consequential amendments must also be early adopted.[#] Where the auditor elects to early adopt an Auditing Standard, the election may be recorded in the auditor's report as an Other Matter paragraph. Refer to ASA 706 for requirements and guidance relevant to Other Matter paragraphs.

Other Reporting Responsibilities (Ref: Para. 43–45)

A58.         In some jurisdictions, the auditor