Document ID: chunk:federal_register_of_legislation:F2017C00509:body:0:p18
Version: federal_register_of_legislation:F2017C00509
Segment Type: other
Provision Reference: 
Character Range: 44228–47021

supported by the evidence gathered.

3.19  Other conclusions

Adverse conclusion
 (1) In giving an adverse conclusion, the audit team leader is attesting:
 (a) that, in relation to the matter being audited, there are misstatements that are material and pervasive enough to affect the matter being audited as a whole; and
 (b) that, because of those misstatements, he or she is unable to give:
 (i) a reasonable assurance conclusion; or
 (ii) a limited assurance conclusion; or
 (iii) a qualified reasonable assurance conclusion; or
 (iv) a qualified limited assurance conclusion.

Conclusion that unable to form an opinion about matter being audited
 (2) In giving the conclusion that the audit team leader is unable to form an opinion about the matter being audited, the audit team leader is attesting that, because he or she was unable to reasonably gather sufficient and appropriate evidence in relation to the matter being audited, he or she is unable to give:
 (a) a reasonable assurance conclusion; or
 (b) a limited assurance conclusion; or
 (c) a qualified reasonable assurance conclusion; or
 (d) a qualified limited assurance conclusion; or
 (e) an adverse conclusion.

Division 3.4—Requirements relating to reporting on assurance engagement

3.20  Overview of Division
 (1) The following is an overview of this Division.
 (2) This Division requires an audit team leader to prepare an assurance engagement report for the assurance engagement.
 (3) The assurance engagement report sets out the audit's objective, a summary of the assurance engagement procedures performed and the conclusion for the audit (see sections 3.17 to 3.19 for conclusions).

3.21  Requirements for assurance engagement report
 (1) The assurance engagement report must be in writing.
 (2) The report must include:
 (a) a cover sheet (see subsection (3)); and
 (b) Part A, containing the matters specified in section 3.22; and
 (c) Part B, containing the matters specified in section 3.23.
 (3) The cover sheet must, subject to subsection (6), contain the following information in respect of the audit:
 (a) the name of the audited body;
 (b) the kind of assurance engagement carried out;
 (c) the date that the terms of engagement were signed as required by section 3.4;
 (d) the date that the audit team leader signed Part A and Part B of the assurance engagement report;
 (e) the period of time in respect of which the matter to be audited was audited;
 (f) the name and contact details for the person in the audited body who is the contact in respect of the assurance engagement;
 (g) the name and contact details of the audit team leader, and if he or she worked for another person in carrying out the assurance engagement, the name, and contact details of that other person;
 (h) if an exemption has been